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Target's stock value is taking a hit, leaving shareholders in the lurch as controversy continues to swirl over its Pride merchandising plans, as first reported by Fox News Digital.
Shares slipped another 1.6% on Thursday and have dropped more than 12.6% since the furor erupted a week ago Wednesday, as tracked by Dow Jones Market Data Group. That amounts to $9.3 billon in market value.
Shares have fallen for six consecutive days over that period, their longest losing streak since December 2022 and the worst six-day stretch since the six days ending May 25, 2022, when shares fell 27.34%.
Over the same time frame, the S&P 500 is little changed. Inquiries by FOX Business to Target on its stock selloff were not immediately returned.
Target .
"For more than a decade, Target has offered an assortment of products aimed at celebrating Pride Month," a company spokesperson told Fox News Digital. "Since introducing this year’s collection, we've experienced threats impacting our team members’ sense of safety and well-being while at work. Given these volatile circumstances, we are making adjustments to our plans, including removing items that have been at the center of the most significant confrontational behavior. Our focus now is on moving forward with our continuing commitment to the LGBTQIA+ community and standing with them as we celebrate Pride Month and throughout the year."Ticker Security Last Change Change % TGT TARGET CORP. 140.78 -2.33 -1.62%
CONSUMERS CREEPED OUT BY TARGET'S ‘TUCK-FRIENDLY’ WOMEN'S SWIMWEAR: ‘SHOPPING ELSEWHERE’
Adding fuel to the fire, the retailer's Gay Pride collection has been linked to a controversial designer: Abprallen's Erik Carnell, who is an outspoken Satanist whose brand features occult imagery and messages like "Satan respects pronouns" on brand apparel, Fox News Digital reported separately.
He is also known for aggressive messaging and phrases, including "Burn down the cis-tem," which have been featured on the website along with one that says "homophobe headrest" with an image of a guillotine.
Carnell explained in an Instagram post that Satan represents "passion, pride and liberty" and "loves all LGBT+ people."Ticker Security Last Change Change % BUD ANHEUSER-BUSCH INBEV 56.87 -0.73 -1.27%
Target is experiencing a similar ongoing trend at Anheuser-Busch following the Bud Light backlash after the brand sent transgender activist Dylan Mulvaney a personalized pack of beer with the influencer's likeness as part of an ad for the company's March Madness contest and to celebrate the year anniversary since Mulvaney began identifying as a woman.
Bud Light has faced intense backlash from longtime customers over a recent campaign with transgender activist Dylan Mulvaney. (Instagram/Fox News / Fox News)
Since March 30 through May 25, the Bud Light parent has lost $18.8 billion in market value with shares down more than 14%, as tracked by Dow Jones Market Data Group, as nationwide boycotts of the beer began and sales tanked. The S&P 500 has risen 2.5% over the same time period.
CEO Michel Doukeris attempted to distance the company from the campaign while also vowing to help distributors who bore the brunt of the financial outcry.
Now with Memorial Day weekend approaching, the company is attempting even more damage control. Fox News Digital reported that Bud Light revealed a new promotion called the US Budweiser Family Memorial Day Rebate online for customers from eligible states. The rebate promises an amount "equivalent to the purchase price of one (1) 15-pack or larger, up to $15" of Bud Light, Budweiser, Budweiser Select or Budweiser Select 55 paid via Anheuser-Busch Digital Prepaid Mastercard. Based on recent prices for Bud Light products, however, in some cases this would be giving packs of beer away for free.
Anheuser-Busch .
BUD LIGHT SALES DOWN 23.6% IN FIRST WEEK OF MAY AS BACKLASH CONTINUES INTO FIFTH WEEK AMID MULVANEY FALLOUT
Several executives who created and launched the campaign have since been put on leave.
Fox News Digital's Brian Flood, Kristine Parks, Lindsay Kornick and Alexa Moutevelis contributed to this report.
Eamonn Holmes has claimed there was a “total cover-up” over Phillip Schofield’s affair with a younger male colleague on This Morning while he was married.
Holmes, 63, who also presented on the show, has accused Schofield of “toxicity” amid the furore over the culture on the ITV daytime programme.
Host Schofield, 61, admitted last Friday to an “unwise, but not illegal” affair with a younger male colleague on the show and has now quit the commercial broadcaster and been dropped by his talent agency YMU.
Schofield on Monday hit back at critics, saying on Instagram there was “no toxicity” on the programme, adding: “I hope you have noticed that it’s the same handful of people with a grudge against me or the show who seem to have the loudest voice.”
ITV said there had been an investigation in early 2020 when “rumours of a relationship between Phillip Schofield and an employee of ITV first began to circulate” but said it did not find “any evidence of a relationship beyond hearsay and rumour”.
A statement from the commercial broadcaster on 27 May said: “Both parties were questioned and both categorically and repeatedly denied the rumours as did Phillip’s then agency YMU.
“In addition, ITV spoke to a number of people who worked on This Morning and were not provided with, and did not find, any evidence of a relationship beyond hearsay and rumour… He lied to people at ITV, from senior management to fellow presenters, to YMU, to the media and to others over this relationship.”
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But Holmes told GB News presenter Dan Wootton: “It’s a total cover-up.
“Those in authority had to know what was going on and they thought they would dodge a bullet with this.
“Which they do and they do constantly because with Schofield talking about those who speak out against him, namely me, Amanda Holden and you [Dan Wootton], you’ll be included in the toxicity that goes on… Dr Ranj [Singh] of course as well.
“And you simply sit there and think ‘no mate, you’ve had it all your way for too long’.”
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Referring to Schofield’s comments on Instagram, Holmes said: “I think that Phillip is absolutely right about toxicity.
“But my friend, the toxicity is not with me, Dan Wootton, or anyone else, the toxicity is with you.”
Phillip Schofield and Eamonn Holmes social media statements in full
Just before 10am on Monday, Phillip Schofield posts a statement on his Instagram stories.
“Now I no longer work on @thismorning I am free to say this. I hope you have noticed that it’s the same handful of people with a grudge against me or the show who seem to have the loudest voice.
“This morning IS the best show to work on, with the best people. In all the years I worked there there was no toxicity. You can listen to those persistently loud voices if you like.
“But the thousands of guests over the years, thousands of staff and crew, hundreds of presenters and contributors all know, it IS a family of wonderful, talented, kind, hard working people.”
At 11.10am Eamonn Holmes tweets a response.
“Schofield has just put out a delusional statement. Like Holly he puts it on Insta Stories so if it goes wrong there is no record after 24 hrs.
“I’m reluctant to give the liar any more publicity but believe me Pip if u r looking for a fight , u have picked on the wrong person !”
ITV has been approached for comment by Sky News about Holmes’s claims.
GB News asked ITV’s managing director of media and entertainment, Kevin Lygo, if there was a “cover-up” and if he “protected” Schofield.
Mr Lygo told a GB News producer: “We really have no more to say.”
Holmes previously presented This Morning on Fridays with his wife Ruth Langsford.
The programme’s former resident doctor Dr Ranj Singh has hit out at the show’s “toxic” culture, saying he raised concerns about “bullying and discrimination” two years ago when he worked there and afterwards felt like he was “managed out” for whistleblowing.
Schofield originally said he was stepping down from the show because it had “become the story”, following reports of a feud between him and co-host Holly Willoughby.
Rishi Sunak has said a new government crackdown on vape marketing will stop the “unacceptable” targeting of children and young people.
Ministers have pledged to close a loophole that allows shops to offer free samples of vapes to children in England as concerns over the proportion of youngsters trying e-cigarettes mounts.
It comes days after the prime minister expressed concern about his own daughters potentially being targeted by vape marketing during an interview on ITV’s Good Morning Britain.
There will also be a review into banning retailers selling “nicotine-free” vapes to under-18s, the government said, as well as a review of the rules on issuing fines to shops that illegally sell vapes to children.
The government said such reviews could make it easier for local trading standards officials to issue on-the-spot fines and fixed penalty notices.
Ministers cited NHS figures from 2021 which revealed 9% of 11 to 15-year-olds used e-cigarettes – up from 6% in 2018.
Image: Brightly coloured packaging and sweet flavours are encouraging children to try out vaping, campaigners say Pic: AP
Mr Sunak said he was “deeply concerned” about the increase in children vaping, adding he was “shocked by reports of illicit vapes containing lead getting into the hands of schoolchildren”.
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“Our new illicit vape enforcement squad – backed by £3m – is on the case but clearly there is more to do,” the prime minister said.
“That is why I am taking further action today to clamp down on rogue firms who unlawfully target our children with these products.”
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He added that the marketing and the illegal sales of vapes to children are “completely unacceptable” and that he will do everything in his power to “end this practice for good”.
Meanwhile, Chief Medical Officer Professor Sir Chris Whitty called the decision to close the loophole a “very welcome step”.
He said: “Whilst vaping can be an effective quitting tool for smokers, it is important that non-smokers are not encouraged to start vaping.
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Sunak on vape ‘enforcement squads’
“There has been a particularly worrying rise in the number of children using vapes, with companies clearly marketing these products at children using colours, flavours and cheap disposable options.
“Closing the loophole that allows companies to give out free samples of vaping products to under-18s is a very welcome step in tackling some of the harms caused by the vaping industry.”
He added: “We should continue to encourage smokers to swap to vaping as the lesser risk, whilst preventing the marketing and sale of vapes to children.”
The health risks of vaping will now also be included in Relatonships, Sex and Health Education lessons in schools as part of the ongoing government review of the curriculum.
And the crackdown will also see dedicated police school liaison officers work to keep illegal vapes out of schools.
Health minister Neil O’Brien described any marketing of vaping products to children as “shameful”.
He said the government would “review the rules on issuing on-the-spot fines to shops that break the law by selling vapes to underage youngsters, and look into banning the sale of nicotine-free vapes to under-18s – which we know can be a gateway to using nicotine products”.
A British man has died after he was reportedly hit by lightning while paddleboarding in Greece.
The unnamed 26-year-old was in the sea during a thunderstorm in Agia Agathi, Rhodes, as his girlfriend filmed him from the beach, according to local media.
Some reports said he had been swimming at the time, rather than paddleboarding.
An investigation is now under way into the incident, which is believed to have happened shortly before 2pm on Monday local time (12pm UK time).
Greek newspaper Rodiaki reported that lightning struck the water near the paddleboarder, causing him to fall in the sea injured.
The newspaper said a passer-by, named as a Brazilian footballer who plays for a local side, waded into the sea to pull the man back to shore.
Medics then took him to a nearby hospital before he was declared dead, the publication added.
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The Port Authority of Rhodes confirmed the man’s age and that he was a British national but would give no further information.
A spokesperson said: “This is an active case so we cannot give more details at the moment.”
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The Foreign and Commonwealth Office said: “We are supporting the family of a British man who has died in Rhodes and are in contact with local authorities.”
According to the swimming website oceanswims.com, when lightning strikes water the electric charge doesn’t penetrate deep into the water, but rather, it spreads across the surface, dispersing horizontally.
“This electric charge can travel as little as 10m or as much as 100m or more, depending on the power of the lightning bolt itself,” it added.
“From a swimmers’ point of view, this means the bolt of lightning doesn’t have to hit you directly for it to cause harm.”