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Target falls 5% after costume apology
Target's stock dropped by 5% after issuing an apology and withdrawing a Halloween costume that sparked controversy over its perceived portrayal of the "Blackface" concept. The product was criticized as racist and led to widespread reactions on social media, along with calls to boycott its stores. Company officials confirmed their apology and commitment to learn from the mistake and avoid repeating marketing errors. This controversy comes amid growing concerns about the brand's reputation, especially as it faces stiff competition from companies like Walmart and Costco. The crisis occurred at a time when the company's financial results were improving following efforts to boost sales, with its stock having risen 70% this year before the recent decline.
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