Some big-name brands thought taking a stand on social issues would boost their image. Instead, it hit them where it hurts – their bottom line. This article looks at 15 companies that faced serious financial consequences after pushing what some call “woke” policies.
From retail giants to fast-food chains, these businesses learned that mixing politics with commerce can be risky. Their controversial moves resulted in angry customers, boycotts, and plummeting stock prices. Their stories show how corporate activism can sometimes backfire, costing millions in lost revenue and market value.
1. Bud Light
Bud Light faced a massive boycott after partnering with transgender influencer Dylan Mulvaney. Research revealed that for the quarter following the controversy, Bud Light’s sales and consumer purchases fell by approximately 28% compared to previous years. The company’s value plummeted by billions of dollars, and it lost its position as America’s best-selling beer.
2. Target
Target’s Pride Month collection in 2023 sparked controversy and led to significant financial losses. The retailer faced criticism for selling “tuck-friendly” swimwear and children’s clothing with LGBTQ+ themes. As a result, Target’s stock price fell, and the company lost $10 billion in 10 days. Target was forced to remove some products and relocate Pride displays in certain stores.
3. Disney
Disney’s public stance against Florida’s Parental Rights in Education law, dubbed the “Don’t Say Gay” bill by critics, backfired. The company lost its special tax status in Florida, costing it millions in taxes and fees. Disney’s stock price dropped significantly, and the company faced calls for boycotts from conservative groups. This controversy led to leadership changes and a refocus on core entertainment offerings.
4. Bed Bath & Beyond
Bed Bath & Beyond’s decision to drop MyPillow products due to CEO Mike Lindell’s political views contributed to its downfall. This move alienated some of their customer base and coincided with other financial troubles. The company filed for bankruptcy in April 2023, closing all its stores and laying off thousands of employees. Bed Bath & Beyond’s demise was partly attributed to its political stance and failure to adapt to changing market conditions.
5. Kohl's
Kohl’s faced backlash after introducing a Pride-themed children’s clothing line in 2022. The company saw a significant drop in sales and stock price following the controversy. Kohl’s was accused of pushing a political agenda on young children, leading to calls for boycotts from conservative groups. The retailer’s financial struggles continued, resulting in store closures and job cuts.
6. Gillette
Gillette’s 2019 ad campaign addressing toxic masculinity sparked controversy and consumer backlash. The company lost $8 billion in writedowns and saw a significant drop in sales. Many customers viewed the ad as an attack on traditional masculinity and boycotted Gillette products. The brand’s market share declined, and it struggled to regain its former position in the razor market.
7. Netflix
Netflix faced subscriber losses after promoting content perceived as overly political. The streaming giant’s stock price dropped by 35% in April 2022, losing $54 billion in market value. Controversial shows and movies led to calls for boycotts and cancellations. To recover financially, Netflix had to lay off hundreds of employees and introduce an ad-supported tier.
8. Goodyear Tire & Rubber Company
Goodyear faced backlash after a leaked photo showed a company policy allowing Black Lives Matter attire but banning MAGA gear. The company’s stock price fell, and it faced calls for boycotts from conservative groups. Goodyear had to clarify its position and revise its workplace policies. The controversy impacted sales and brand reputation.
9. Burger King
Burger King’s “Women belong in the kitchen” tweet for International Women’s Day 2021 backfired spectacularly. The company faced accusations of sexism and lost customers despite claiming it was meant to highlight gender disparity in the culinary industry. Burger King had to apologize and delete the tweet, but the damage to its reputation lingered.
10. Starbucks
Starbucks faced boycotts after announcing plans to hire 10,000 refugees in response to Trump’s travel ban. The company’s stock price fell, and it saw a drop in brand perception scores. Starbucks also faced criticism for its handling of racial bias incidents in stores. These controversies led to temporary store closures for bias training and impacted sales.
11. Levi Strauss & Co.
Levi’s faced backlash after its CEO spoke out against gun violence and supported gun control measures. The company lost customers who disagreed with its stance and saw a decline in sales in some regions. Levi’s stock price fluctuated as investors worried about the impact of its political positioning on business performance.
12. Keurig
Keurig faced boycotts after pulling ads from Sean Hannity’s Fox News show over his coverage of Roy Moore. Customers posted videos destroying Keurig machines on social media. The company’s sales and stock price temporarily dropped. Keurig had to apologize to employees for putting them in the middle of a political debate.
13. Coca-Cola
Coca-Cola faced backlash after criticizing Georgia’s voting law and implementing diversity training that some viewed as “anti-white.” The company saw a drop in its stock price and faced boycott calls from conservative groups. Coca-Cola had to pause its diversity initiatives and clarify its position on political issues to mitigate the damage.
14. WeWork
WeWork’s rapid decline was partly due to its focus on social impact over profitability. The company’s valuation dropped from $47 billion to less than $8 billion in weeks. WeWork’s emphasis on community and social values couldn’t mask its unsustainable business model. To avoid bankruptcy, the company had to cancel its IPO and lay off thousands of employees.
15. Papa John's
Papa John’s faced controversy when founder John Schnatter criticized NFL players kneeling during the national anthem. The company’s stock price fell, and sales declined as customers boycotted the brand. Papa John’s had to distance itself from Schnatter and eventually removed him from leadership roles. The pizza chain struggled to recover its market share.
And now we have a Presidential candidate that publicly states we need to be more woke - LOL
From retail giants to fast-food chains, these businesses learned that mixing politics with commerce can be risky. Their controversial moves resulted in angry customers, boycotts, and plummeting stock prices. Their stories show how corporate activism can sometimes backfire, costing millions in lost revenue and market value.
1. Bud Light
Bud Light faced a massive boycott after partnering with transgender influencer Dylan Mulvaney. Research revealed that for the quarter following the controversy, Bud Light’s sales and consumer purchases fell by approximately 28% compared to previous years. The company’s value plummeted by billions of dollars, and it lost its position as America’s best-selling beer.
2. Target
Target’s Pride Month collection in 2023 sparked controversy and led to significant financial losses. The retailer faced criticism for selling “tuck-friendly” swimwear and children’s clothing with LGBTQ+ themes. As a result, Target’s stock price fell, and the company lost $10 billion in 10 days. Target was forced to remove some products and relocate Pride displays in certain stores.
3. Disney
Disney’s public stance against Florida’s Parental Rights in Education law, dubbed the “Don’t Say Gay” bill by critics, backfired. The company lost its special tax status in Florida, costing it millions in taxes and fees. Disney’s stock price dropped significantly, and the company faced calls for boycotts from conservative groups. This controversy led to leadership changes and a refocus on core entertainment offerings.
4. Bed Bath & Beyond
Bed Bath & Beyond’s decision to drop MyPillow products due to CEO Mike Lindell’s political views contributed to its downfall. This move alienated some of their customer base and coincided with other financial troubles. The company filed for bankruptcy in April 2023, closing all its stores and laying off thousands of employees. Bed Bath & Beyond’s demise was partly attributed to its political stance and failure to adapt to changing market conditions.
5. Kohl's
Kohl’s faced backlash after introducing a Pride-themed children’s clothing line in 2022. The company saw a significant drop in sales and stock price following the controversy. Kohl’s was accused of pushing a political agenda on young children, leading to calls for boycotts from conservative groups. The retailer’s financial struggles continued, resulting in store closures and job cuts.
6. Gillette
Gillette’s 2019 ad campaign addressing toxic masculinity sparked controversy and consumer backlash. The company lost $8 billion in writedowns and saw a significant drop in sales. Many customers viewed the ad as an attack on traditional masculinity and boycotted Gillette products. The brand’s market share declined, and it struggled to regain its former position in the razor market.
7. Netflix
Netflix faced subscriber losses after promoting content perceived as overly political. The streaming giant’s stock price dropped by 35% in April 2022, losing $54 billion in market value. Controversial shows and movies led to calls for boycotts and cancellations. To recover financially, Netflix had to lay off hundreds of employees and introduce an ad-supported tier.
8. Goodyear Tire & Rubber Company
Goodyear faced backlash after a leaked photo showed a company policy allowing Black Lives Matter attire but banning MAGA gear. The company’s stock price fell, and it faced calls for boycotts from conservative groups. Goodyear had to clarify its position and revise its workplace policies. The controversy impacted sales and brand reputation.
9. Burger King
Burger King’s “Women belong in the kitchen” tweet for International Women’s Day 2021 backfired spectacularly. The company faced accusations of sexism and lost customers despite claiming it was meant to highlight gender disparity in the culinary industry. Burger King had to apologize and delete the tweet, but the damage to its reputation lingered.
10. Starbucks
Starbucks faced boycotts after announcing plans to hire 10,000 refugees in response to Trump’s travel ban. The company’s stock price fell, and it saw a drop in brand perception scores. Starbucks also faced criticism for its handling of racial bias incidents in stores. These controversies led to temporary store closures for bias training and impacted sales.
11. Levi Strauss & Co.
Levi’s faced backlash after its CEO spoke out against gun violence and supported gun control measures. The company lost customers who disagreed with its stance and saw a decline in sales in some regions. Levi’s stock price fluctuated as investors worried about the impact of its political positioning on business performance.
12. Keurig
Keurig faced boycotts after pulling ads from Sean Hannity’s Fox News show over his coverage of Roy Moore. Customers posted videos destroying Keurig machines on social media. The company’s sales and stock price temporarily dropped. Keurig had to apologize to employees for putting them in the middle of a political debate.
13. Coca-Cola
Coca-Cola faced backlash after criticizing Georgia’s voting law and implementing diversity training that some viewed as “anti-white.” The company saw a drop in its stock price and faced boycott calls from conservative groups. Coca-Cola had to pause its diversity initiatives and clarify its position on political issues to mitigate the damage.
14. WeWork
WeWork’s rapid decline was partly due to its focus on social impact over profitability. The company’s valuation dropped from $47 billion to less than $8 billion in weeks. WeWork’s emphasis on community and social values couldn’t mask its unsustainable business model. To avoid bankruptcy, the company had to cancel its IPO and lay off thousands of employees.
15. Papa John's
Papa John’s faced controversy when founder John Schnatter criticized NFL players kneeling during the national anthem. The company’s stock price fell, and sales declined as customers boycotted the brand. Papa John’s had to distance itself from Schnatter and eventually removed him from leadership roles. The pizza chain struggled to recover its market share.
And now we have a Presidential candidate that publicly states we need to be more woke - LOL
