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August 20, 2023
A Closer Look at Target’s Awful Q2 Reveals That The Financial Results Are Even Worse Than They First AppearedAce highlighted Target’s sales collapse in the second quarter of 2023 this past week, but there is more I’d like to highlight about just how punishing the consumer backlash against Target has been. First, here is a link and a quick snippet from the Associated Press about Target’s awful Q2 results. Target reported its first quarterly sales drop in six years, dragged down by shoppers’ inflation worries and a negative reaction by some customers, widely publicized on social media, to its Pride merchandise. While a lot of people have fatigue about the coerced celebration of “Pride,” it’s important to note that the backlash is not anti-gay. The backlash is because Target decided to promote gender transition to children during Pride Month. Look at this impressive bar graph showing Target’s revenue collapse!
• Target saw a year over year decline in top line sales despite inflation of at least 4%. So in other words, had Target simply sold the identical volume and mix of merchandise in Q2 2023 as it did in Q2 2022, its sales would have increased about 4%, but with the 5.4% drop in top line sales, the actual impact is that Target sold almost 10% less merchandise! That is a staggering decline. • Q2 started on April 1, but the Pride displays didn’t arrive until sometime in May, at which time the boycott started. The Q2 results include the full month of April and part of May, before the boycott even started, which means that June sales had to be spectacularly awful to pull the whole quarter down so drastically. Further, the boycott had only fully reached its momentum in June, and carried on full steam into July and August, so Target’s Q3 2023 results (July, August, and September) should be absolutely catastrophic compared to Q3 2022. • Wal Mart just reported outstanding results for the same quarter that Target suffered its decline. It’s funny how those “inflation worries” that are affecting Target customers’ spending aren’t having the same impact on Wal Mart customers’ spending. Of course, there’s no doubt that Wal Mart picked up a lot of business in June from repulsed Target customers. “Walmart Earnings Smash Expectations After Weaker Second Quarter from Target [Yahoo – 8/17/2023] In the retail giant's second quarter earnings release, out before the market open on Thursday, Walmart posted same-store sales that rose 6.30%, more than the 4.04% expected, according to data from Bloomberg. Of note, when Wal mart promotes “conversion” it is talking about consumer spending, not the “conversion” that Target is trying to impose on your children. Meanwhile, its competitor Target (TGT), which reported Q2 results Wednesday, saw a 5.4% drop in sales and shared a dreary outlook for the rest of the year. Target’s revenue decrease in Q2 2023 was over a billion dollars, because American consumers are fed up with woke corporations and woke executives. Had the boycott started in early April rather than mid-May, the revenue hit to Target might have exceeded $2 billion. We consumers have the power to punish woke corporations and make them suffer for promoting ESG and the rest of the left’s diabolical agenda. Our dollars are extremely powerful weapons, and if corporate America doesn’t choose to refrain from political advocacy, we can make them suffer financially. Let’s keep it up. No Anheuser Busch. No Target. No Disney. No Gillette. No woke capital. [buck.throckmorton at protonmail dot com] | Recent Comments
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The Ninth Circuit (Circus) Rules That Local Politicians Do Not Have the Right to Block Presidents From Deporting Illegals Even as Comcast Prepares to Sell, Or Shut Down, Toxic Propaganda Network MSNBC, MSNBC's Ratings Crash to Lowest Level in 20 Years The Hunter Biden Pardon Has Stripped Bare the Democrats' Years-Long Preening About How They're the Party That "Respects the Rule of Law" Whistleblower Claims That FEMA Skipped Entire Neighborhoods If They Sported Three or More Trump Signs; House Republicans Demand Inspector General Investigate Update: Biden Decrees $1 Billion in Aid for Storm Victims -- For Africa South Korea's President Declares Martial Law -- But the Parliament Cancels It on a 190-0 Vote Flashback: When Taylor Lorenz Freaked Out About People Not Wearing Masks and "Rawdogging The Air" With Their Particles The Morning Rant: Reflections Edition Mid-Morning Art Thread The Morning Report — 12/3/24 Search
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