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It’s been a season of disquiet for Target and Bud Light.
The retailer and beer brand have seen sales decline in recent months due to boycotts over their respective LGBTQ+ merchandise and marketing efforts. Each company’s reaction to the backlash—Target stopped selling certain products; Bud Light didn’t voice support for its transgender brand partner Dylan Mulvaney—only made things worse, upsetting consumers on the other end of the political spectrum.
So far this year, Target’s share price has underperformed compared with the S&P 500.