Foot traffic was up at Target Corp. stores last month despite the recent anti-LGBTQ+ backlash against the company’s Pride collection, according to location-intelligence company Gravy Analytics.
While Target
TGT,
has come under intense pressure over its Pride collection, foot traffic to the company’s stores between April 30 and May 27, 2023 increased 69% compared with the same period last year, Gravy Analytics’ data show. For the week of April 30, 2023, Target saw 7.79 million daily visitors, which increased to 7.92 million daily visitors in the week of May 7, according to Gravy Analytics. For the week of May 14, Target had 8.54 million daily visitors, which rose to 8.7 million daily visitors in the week of May 21.
Related: Target’s stock snaps longest losing streak in 23 years as anti-LGBTQ+ backlash continues
Target also saw its foot traffic increase slightly more than some of its competitors during that period, Gravy Analytics’ data show. From the week of April 30 to the week of May 21, 2023, Target saw a 12% increase in foot traffic compared to Costco Wholesale Corp.
COST,
and Walmart Inc.
WMT,
which saw a 9% and 1% increase, respectively.
Pride month began on June 1st. Target has offered Pride-related products for more than a decade.
Related: Trans designer in Target anti-LGBTQ+ backlash says he was ‘dealt the worst hand’
Last week, Target’s stock snapped its longest losing streak in 23 years — 11 days — amid the backlash against the retail giant.
Target was also downgraded to neutral from overweight by JPMorgan last week, which cited the impact of “consumer pressures and recent company controversies” about the retail giant.
The company’s stock fell 1% Wednesday, outpacing the S&P 500 index’s
SPX,
decline of 0.3%.
