Target shares fall; co apologizes for children's Halloween costume after backlash

Target

25/08/2026 14:56

** Shares of big-box retailer Target TGT.N down ~4% at $162.70 in early trading 
** On Monday, TGT apologized and pulled back a Halloween costume from sale depicting a circus clown that critics said evoked Blackface and minstrel shows
** The "Kids' Glows Under Blacklight Circus Clown Halloween Costume," sparked social media backlash, with some consumers saying it resembled a racist caricature
** "We removed an offensive Halloween costume that should never have been part of our assortment. It is no longer for sale," TGT said in the statement after saying it is "deeply sorry"
** "This is especially hurtful for our Black guests, team members and partners," co added
** Target's shares have jumped nearly 70% through the year as investors cheered early gains from new CEO Michael Fiddelke's turnaround plan
** Shares hit a near two year high on Monday, at $170.73
** The S&P 500 consumer staples index .SPLRC also down 0.9% as spending pressures increase on the U.S. consumer
** TGT has previously faced criticism over its handling of products in its 2023 Pride Collection, and for changes to its diversity, equity and inclusion initiatives in the wake of President Donald Trump's return to the White House

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))