Target reported Wednesday that it was lowering its sales and profit expectations for the rest of the year, with the company having faced conservative backlash earlier in the quarter over the release of LGBT products for kids, according to Target’s second quarter earnings report.
Target lowered its sales and profit expectations for the rest of the year after its quarterly sales fell for the first time in six years, declining 5.4%, while it announced it expected its share price to clock in between $7.00 to $8.00 as opposed to the previously expected $7.75 to $8.75, according to the earnings report. The decrease in expectations follows backlash from conservatives after the company announced a Pride Month collection in May that included LGBT merchandise marketed to kids.
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