Former Target exec reveals 'one item' that sparked pride backlash

WILL: MISSING THE TARGET. TARGET EARS FALL FROM GRACE CONTINUES AS IS COMPANY FACES MASSIVE BACKLASH AGAINST THEIR PRIDE MONTH COLLECTION. THE RETAIL GIANT PLUMBING $13 BILLION SINCE THE CONTROVERSY STARTED MID MAY AND ONE TARGET EMPLOYEE SPEAKING OUT AND SAYING OUR TEAM FEELS LEFT BEHIND DOESN'T MATTER WHAT SIDE YOU'RE ON. YOU FEEL LIKE PEOPLE ARE MAKE DECISIONS WITHOUT OUR BEST INTEREST. WE'RE JOINED BY FORMER TARGET VICE CHAIRMAN GREG STORCH, HE JOINS US NOW. GREG -- GERALD, THANK YOU FOR BEING WITH US THIS MORNING. AS YOU LOOK AT THIS AND SEE, YOU SEE TARGET'S DECLINE, IT'S -- WHAT IS IT, ALMOST MORE THAN $12 BILLION IN MARKET VALUE AND OFF OF 74 AND WE TALK ABOUT A SIGNIFICANT PERCENTAGE IN TWO WEEK'S TIME, WHAT DO YOU MAKE OF IT? >> LOOK, OUR TARGET STOCK IS PERFORMING POORLY OFF 11% OF YEAR TO DATE AND IT'S GOING ON IN THE BUSINESS AND THERE'S MORE CONCERNS WITH THAT AND WHAT HAPPENED ON MAY 18, THAT'S THE DAY WAL-MART REPORTED 7% GAIN IN COM STORE SALES AND TARGET REPORTED FLAT SALES AND FLAT AT TARGET AND UP 7 AT WAL-MART, THERE'S NO WAY THAT COMPARISON LOOKED GOOD AND THE CONSUMER IS FEELING VERY STRESSED AND VERY STRESSED BY THE ENVIRONMENT BY INFLATION AND TARGET IS THE UPSCALE DISCOUNTER AND NOT THE UPSCALE DISCOUNTER AT A TIME WHEN THE CONSUMER DOESN'T HAVE A LOT OF MONEY TO SPEND AND THEY'RE MIGRATING MORE TO WAL-MART AND THAT'S A HUGE PROBLEM. WILL: GERALD, THERE'S FUNDAMENTAL CONCERNS AND FOUNDATIONAL CONCERNS AND THE CONTRIBUTING FACTOR OF THE BOYCOTT AND SALES ARE SNOUT COME BACK AND THERE'S A LOT OF TIME WITH THIS BIG CULTURAL MOVE AND MY QUESTION TO YOU IS THIS AND THIS BUD LITE BOYCOTT, IT'S STICKING. IT'S RESILIENT AND IT'S NOT GOING AWAY. DO YOU EXPECT SOMETHING DIFFERENT FOR TARGET? >> YEAH, ACTUALLY I DO. THERE'S NO DOUBT THE BOYCOTTER IS PART OF THE PROBABLE AND READING WITH THIS PERIOD AND THE ANALYSTS KEEP IN MIND I'LL RELAY TO THE INVESTORS ARE THE ONES BUYING THE STOCK OR IN THIS CASE SELLING BIG AMOUNTS OF STOCK AND MORE CONCERNED OF THE FUNDAMENTAL ISSUES AND THEY'RE WATCHING IT VERY, VERY CAREFULLY AND THEY WANT TO UNDERSTAND WHAT THE EFFECT IS ON THE SALES AND I REALLY EXPECT THIS TO FADE OVERTIME. KEEP IN MIND THAT ALL OF TARGET'S COMPETITORS, ALL OF THEM HAVE PRIDE SECTIONS AND WAL-MART HAS A PRIDE SECTION AND MACYS KOHLS, WELL SPOKEN ABOUT RECENTLY. JC PENNY, MACYS STOCK IS DOWN 25% AND CONSUMERS AREN'T BUYING APPAREL IN THIS ENVIRONMENT. I EXPECT THIS TO BE HERE AND DEALING WITH IT ON THE WAY OUT. OVER TIME THIS IS NOT GOING TO BE A BIG ISSUE FOR THEM. WILL: WE'LL FIND OUT. TIME WILL TELL THE TRUTH ON THAT. IT'S A VERY FAIR POINT AND YOU MAKE ABOUT COMPETITORS AND I KNOW THAT ALL OF THEM AND I'VE SINCERELY SAYING HAVING A PRIDE SECTION IS ONE THING AND HAVING CERTAIN MERCHANDISE IS ONE THING AND IN CORRELATION TO CHILDREN'S STUFF AND THE ALLIANCE REALLY QUICKLY AND I SEE YOU WANTING TO SPEAK AND I WANT TO HEAR YOUR LAST POINT ON THIS. WHAT WOULD YOU HAVE DONE. I'M CURIOUS AND YOU GET A BOYCOTT OR GET PROTESTED BY THE PRIDE SUPPORTERS IF YOU DON'T DO IT ONE WAY OR DO IT THE OTHER WAY AND IN ONE WAY. >> ONE ITEM THAT TUCK SWIM SUIT MADE THE DIFFERENCE VERSE THE COMPETITOR AND THAT MADE THE MISTAKE BIG. FORGIVENESS AND LOVE, THAT'S PART OF AMERICA AND THAT'S WHAT YOU HAVE TO DO. THERE WAS A PROBLEM AT BABIES R US AND THE CONTEST WHERE THE FIRST BABY OF THE YEAR GETS $20,000 AND HE WAS BORN WITH THE IMMIGRANT AND THEY DIDN'T HAVE A TAX ID AND WE LOVE ALL BABIES. AT THE END OF THE DAY YOU SHOW THAT AND YOU NOISY RECORDINGS THIS TOO AND GET OUT OF A PROBLEM, ADDRESS AS A REAL PROBLEM AND SHOW LOVE FOR PEOPLE AND IT WORKS. WILL: I APPRECIATE THAT AND APPRECIATE LOVE. I WOULD OFFER ONE OTHER WORD AS WELL, HOW ABOUT JUDGMENT. SEEMS TO BE IN SHORT SUPPLY AND TALKING ABOUT TUCK BATHING SUITS, TALKING ABOUT LEADERSHIP WITH SOME BAD JUDGMENT. >> WELL, MY PEOPLE THAT I'VE TALKED TO HERE, THEY GO HOW DID THAT GET PAST THE MEETING AND AGREE? LET'S PUT THAT IN THE ASSORTMENT. THE PLACE HAD DIFFERENT COLORS AND FINE, SHOW THE RAINBOW. GINGER BREAD HOUSE, FINE. EVERYONE CARRIES THAT AND I'VE NEVER SEEN ONE ITEM MAKE A DIFFERENCE LIKE THIS. WILL: WHAT

Channel: Fox News

Views: 263,501

Keywords: pride month, target pride, target pride collection, target pride clothing, target pride display, target pride section, target pride merch, target pride collection 2023 backlash, target pride swimsuit, target pride swimsuit controversy, target pride clothing controversy, target pride collection controversy, target market value drop, gerald storch, fox & friends weekend, fnc, fox news, fox news channel, fox news media, fox news network, fox news today

Id: MzOSHkRiuhE

Length: 5min 38sec (338 seconds)

Published: Sat Jun 03 2023