While the retailer has faced a backlash over its LGBTQ+ pride range, one market analyst believes recent stock price drops are a 'hangover' from a pandemic boom.
But Bowman said:"It's hard for me to see that really having a meaningful or lasting effect on their business."
Meanwhile, net earnings—the income of a company after expenses have been deducted—were down 5.8 percent in the three months to April 29, compared to the same time in 2022, a drop of around $59 million. Bowman said of the projected $500 million lost to shrink:"Even for a company the size of Target, that's pretty extraordinary. That's another issue that seems to have crept up out of nowhere."
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