Former Targert Vice Chairman Gerald Storch discusses the backlash surrounding Target's pride collection and the retail giant's decline in maket value.
He explained that many retailers carry pride merchandise,"you know, the plates that had different colors in it. Fine. You show the rainbow, you know, a gingerbread house, whatever you are, that's all you know. Who cares? Everybody carries that stuff."
"At the end of the day, if you embrace and you show that to people and you know, I hear you every morning, you know this, too. That's how you get a problem, is you have to address it as a real problem and show love for people and it works," he added. "Target's decline in stock, -- actually began on May 18th." He explained,"that's the day Walmart reported seven percent gain in comp store sales on the prior day. Target had reported flat sales, year flat at Target, up seven at Wal-Mart. There's no way that comparison looks good."
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