Kohl’s has been forced to heavily discount its Pride merchandise after only a week of the monthly celebration, as Target continues to face the fallout from its own decision to promote Pride products.
The Wisconsin- based retailer, which has more than 1,100 stores across 49 states, is now discounting its Pride collection both online and in stores.
A navy blue t-shirt with the rainbow colors of the LGBTQ flag and the word ‘pride’ is now selling at a 60 percent discount, for $4.80.
Much of the Pride collection at a Long Island store visited by DailyMail.com was in the 50 percent discount selection.
A t-shirt being sold at Kohl’s on Thursday was offered at a 60 percent discount, eight days into the Pride month celebrations
Much of the merchandise for Pride was found in the 50 percent discount section
A pack of baby bibs was being sold online at a 50 percent 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 are now $11, down from $22.
‘Celebrate the joy that comes from living authentically and unapologetically during Pride month and all year long with this Bioworld Pride Baby Bib 2-pk,’ the website states.
A babygro with a woman carrying a Pride flag is $9.99, down from $19.99.
Kohl’s, asked by DailyMail.com whether this meant the merchandise was not selling, has not commented.
However, the discounting comes after Target lost over $4 billion in market value in just under three weeks after it began selling its Pride collection, which included offering a ‘tuck friendly’ female swimwear line for transgender women.
Shark Tank’s Kevin O’Leary said the ‘unprecedented’ decline shows the company’s failure to prioritize its investors over appeasing modern woke standards, including listening to diversity officers instead of business savvy executives.
‘On one hand, companies want to show their support of diversity in all the mandates that society is discussing openly,’ he told Fox News.
‘On the other hand, the job of a business – particularly from the perspective of an investor, and those that are retired, for example, that own the S&P 500 or own Target stock – are concerned that maybe they’re losing their way in terms of what the prime objective is: your customers, your employees, and your shareholders.’
Shark Tank star Kevin O’Leary (right) said the stunning collapse of Target should serve as a warning to other woke CEOs
O’Leary’s remarks come as several major US corporations, including Target, Adidas and Bud Light, face significant backlash to woke advertising campaigns.
The Shark Tank investor warned that continued efforts to push ideological marketing on customers will see more companies suffer financially.
‘The stunning collapse of Target market cap is almost unprecedented for its own stock in 20 years, and how this happened is being scrutinized by lots of other boards right now,’ he said.
‘If you start to get too distant or too far away from the primary mandate, the market has proven itself to really, really punish you.
‘And it’s woken up all kinds of boards.’
O’Leary said the outrage by customers over recent controversies, such as Bud Light’s disastrous campaign with trans star Dylan Mulvaney, is heightened by social media.
‘This is displaying the power of something most board of directors never thought about – social media,’ he said.
‘When you can’t control the message anymore through social media, which is clearly obvious, you better figure out what message you’re putting out before it ever gets out there.
‘We almost need a new committee on boards. We have committees for risk, compensation, we’ve got compliance committees.
‘We need a communications and media committee to advise the rest of the board who don’t even have Twitter accounts or don’t have Facebook or don’t use LinkedIn.’
Target sparked backlash after releasing its LGBT Pride month product selection
He said social media-illiterate executives continue to fail to understand the ‘risks inherent’ in pushing such advertising.
However, while conceding roles such as diversity officers are here to stay, O’Leary insisted that businesses need to return to placing their bottom lines at the top of their priorities.
‘I don’t think you’re going to find a lot of people saying, “Oh, let’s not have diversity officers”. I think that boat sailed,’ he said.
‘But what they do with their budgets now really matters and the risks they’re putting the company into because of the power of uncontrolled social media is obviously measurable.
‘When you lose $11 billion of market cap, there’re a lot of unhappy cowboys out there. They’re called your investors.’
This included the public humiliation of once-leading beer brand Bud Light, which has faced financial ruin in the wake of its partnership with Mulvaney.
‘It took decades to create the American beer, and exactly 32 hours to destroy it,’ he added.
The female swimsuit collection included a label which advertises the ‘tuck-friendly construction’ and ‘extra crotch’ coverage
Since partnering with Mulvaney, Bud Light’s parent company Anheuser-Busch has faced boycotts and declining sales
The fallout from Anheuser Busch decision to collaborate with Mulvaney saw the company lose an astonishing $27 billion in just months.
And the knock-on effect was felt into Memorial Day weekend, when shoppers shared videos of unwanted cases of Bud Light sitting untouched on shelves nationwide.
The boycott has reportedly spread to independent wholesalers, who have seen their sales tank by up to $2,000-a-month as customers steer clear of the brand.
