Target Faces Holiday Slump as Inflation and Pride Controversy Impact Sales 📉

Target's sales are down this holiday season as high inflation leads customers to cut back on discretionary purchases. Target is shifting its focus to lower prices and essential products to attract more customers and regain market share amid a difficult retail environment. The retail giant faced controversy earlier this year when it scaled back its Pride collection and removed items after facing criticism and confrontations, leading to accusations of yielding to anti-LGBTQ pressure. Internally, the controversy caused turmoil among employees who questioned executives' decisions. Analysts predict a 5.3% drop in Target's comparable sales for the current quarter, with an expected net income of $685 million, a decrease from $712 million in the same quarter last year when Target was discounting excess inventory.