Target Shares Drop After Costume Controversy
Target shares fell up to five percent after the retailer apologized for pulling a Halloween costume that sparked backlash. The incident renewed investor concerns regarding brand missteps as the company attempts to improve lagging sales.
Insights:
Target shares fell as much as 5% on Monday after the retailer pulled a Halloween costume criticized for evoking Blackface. The backlash threatens to stall a financial turnaround in the United States. Shares had risen about 70% this year prior to the drop.
