Kohl’s was forced to cut its Pride merchandise sharply after just a week of monthly celebration, as Target continues to deal with the fallout from its own decision to promote Pride merchandise.
The Wisconsin-based retailer, which has more than 1,100 stores in 49 states, is now offering a discount on its Pride collection online and in-store.
A navy t-shirt with the rainbow colors of the LGBTQ flag and the word “pride” is now selling for 60% off, for $4.80.
Much of the Pride collection at a Long Island store visited by DailyMail.com was part of the 50% off selection.
A t-shirt sold at Kohl’s on Thursday was offered 60% off, eight days after Pride Month celebrations began
Much of the merchandise for Pride was found in the 50% off section
A pack of baby bibs was sold online with a 50% discount
A baby ‘Pride Bodysuit Set’ was also half price, at $9.99
And online, much of the collection was also being sold at half the original price – tote bags, table runners, baby bibs and pajamas.
A two-pack of baby bibs is now $11, down from $22.
“Celebrate the joy that comes from living authentically and unapologetically during Pride month and throughout the year with this Bioworld Pride 2-pk baby bib,” the website reads.
A babygro with a woman wearing a Pride flag is $9.99, down from $19.99.
Kohl’s, who was asked by DailyMail.com if that meant the merchandise was not selling, did not comment.
However, the discount comes after Target lost more than $4 billion in market value in just under three weeks after it began selling its Pride collection, which included offering a line of women’s “tuck friendly” swimwear for transgender women.
Shark Tank’s Kevin O’Leary said the “unprecedented” decline shows the company’s failure to put its investors first rather than appease modern woke standards, including listening to diversity leaders at instead of savvy business executives.
“On the one hand, companies want to show their support for diversity in all mandates that the company is openly discussing,” he said. FoxNews.
“On the other hand, the job of a company – especially from an investor’s point of view, and those who are retired, for example, who own the S&P 500 or who own Target stocks – fear can – be that they don’t get lost in terms of their primary focus: your customers, your employees and your shareholders.
Shark Tank star Kevin O’Leary (right) said Target’s stunning collapse should serve as a warning to other woke CEOs
O’Leary’s remarks come as several major U.S. corporations, including Target, Adidas and Bud Light, face significant backlash to wake up ad campaigns.
The Shark Tank investor has warned that continued efforts to push ideational marketing on customers will see more businesses suffer financially.
“Target’s staggering market capitalization collapse is nearly unprecedented for its own stock in 20 years, and how it happened is currently under scrutiny by many other boards,” he said. declared.
“If you start to stray or stray too far from the core mandate, the market has proven to really, really punish you.”
“And it woke up all kinds of boards.”
O’Leary said customer outrage over recent controversies, such as Bud Light’s disastrous campaign with trans star Dylan Mulvaney, is being heightened by social media.
“It shows the power of something most boards have never thought about – social media,” he said.
“When you can no longer control the message via social media, which is clearly evident, you better figure out what message you are putting out before it gets out.
“We almost need a new board committee. We have risk committees, compensation committees, we have compliance committees.
“We need a communications and media committee to advise the rest of the board who don’t even have a Twitter account or don’t have Facebook or use LinkedIn.”
Target sparked a backlash after releasing its LGBT Pride Month product selection
He said illiterate social media executives continue to fail to understand the “inherent risks” of promoting such ads.
However, while conceding roles such as diversity officers are here to stay, O’Leary insisted that companies need to get back to putting their bottom line at the top of their priorities.
“I don’t think you’ll find a lot of people saying, ‘Oh, we don’t have diversity officers.’ I think that boat has sailed,” he said.
“But what they do with their budgets now really matters and the risk they are putting the business at due to the power of unchecked social media is obviously measurable.”
“When you lose $11 billion in market capitalization, there are a lot of angry cowboys. They are called your investors.
This included the public humiliation of once leading beer brand Bud Light, which faced financial ruin following its partnership with Mulvaney.
“It took decades to create American beer and exactly 32 hours to destroy it,” he added.
The women’s swimwear collection included a tag that advertises the “friendly construction” and “extra inseam” coverage.
Since partnering with Mulvaney, Bud Light’s parent company, Anheuser-Busch, has faced boycotts and declining sales
The fallout from Anheuser Busch’s decision to collaborate with Mulvaney saw the company lose $27 billion in just a few months.
And the ripple effect was felt over Memorial Day weekend, when shoppers shared videos of undamaged Bud Light junk cases on shelves nationwide.
The boycott has reportedly extended to independent wholesalers, who have seen their sales pipeline rise to $2,000 a month as customers shun the brand.