Target’s stock has dropped more than 10 percentage points since the company invited controversy by unveiling its latest line of LGBT products. That amounts to a loss of more than $9 billion in market value, data shows.

The issue goes far beyond Target—Walmart, Kohl’s, and many other retailers are also being watched closely by conservative consumers.

And this is all just a prelude to what comes on June 1: the start of Pride Month.

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