Castro business owners see spike in business during Pride Month
On an average year, the city of San Francisco welcomes around a million visitors to celebrate Pride, according to SF Pride. Visitors pour money into the local economy, supporting hotels and restaurants.
Pride Month starts this weekend. Here's what to expect
The spike in tourists makes June the third busiest month of the year for the city, behind December and October.
The owner of the Cliff's Variety Store told KRON4 that he sees a 20 to 25% increase in revenue in the month of June. Local businesses are expecting to see a similar boost in sales. By some estimates, Pride brings in around 500 million dollars in revenue for the city.
The annual Pride Parade is scheduled for June 29 on Market Street.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Axios
5 hours ago
- Axios
Nashville Pride faces catastrophic shortfall after corporations pull funding
Nashville Pride's future is in jeopardy after corporate sponsorships cratered this year, creating a catastrophic budget shortfall for the LGBTQ+ nonprofit. Why it matters: The organization launched an emergency fundraiser to "save Nashville Pride." Organizers say if they don't hit their $250,000 goal, "we risk losing not just a weekend of celebration, but a safe space for tens of thousands of LGBTQ+ people and allies all year long." Nashville Pride set a deadline of Oct. 11, which is National Coming Out Day. The big picture: Pride festivals nationwide have been pushed to the brink this year. Longtime corporate allies are backing away and pulling funding. The trend is fueled by the Trump administration's opposition to diversity, equity, and inclusion. State of play: In Nashville, funding from corporate sponsors dropped by $270,000 in 2025. That's down 40% from 2024. Nashville Pride organizers said many of the losses were unexpected, last-minute decisions. Vanderbilt University Medical Center, which previously contributed medical support at the festival, pulled out in mid-May, only a few weeks before this year's festival, Pride spokesperson Brady Ruffin tells Axios. As a result, organizers had to find and pay for a new provider, Ruffin says, racking up $30,000 in expenses. A VUMC spokesperson declined to comment. Between the lines: Past Nashville Pride sponsor Nissan, one of the companies that stepped back this year, said its Pride retreat was part of a broad review of marketing and sales spending, per a Nissan spokesperson. Zoom in: Bad weather during this year's festival exacerbated revenue problems. Organizers said storms cut attendance by more than 15,000 people. What they're saying:"These challenges left Nashville Pride with a gap that no single organization can fix," Nashville Pride board president Tina Tousignant, said in a statement Wednesday. Driving the news: Nashville Pride said growing opposition to LGBTQ+ issues at the state and federal levels underscored the significance of the fundraising effort. Tennessee has long been seen as a leader in anti-transgender policies. Lawmakers have pushed restrictions on drag queens and gender-affirming health care. The Nashville-based Southern Baptist Convention passed a resolution this year supporting efforts to reverse Obergefell v. Hodges, the landmark case that legalized same-sex marriage 10 years ago. "Pride isn't just a party — it's survival," Nashville Pride vice president Alycia Ehimen said in the Wednesday statement.
New York Post
6 hours ago
- New York Post
Target's stock plunges 7% as new CEO pick disappoints Wall Street: ‘There won't be change when change is needed'
Target shares tanked 7% after it tapped a longtime insider as its new chief executive – sorely disappointing investors who had hoped the struggling 'cheap chic' retailer would lure a retail guru from outside. Michael Fiddelke, the 49-year-old chief operating officer of the 'cheap chic' retailer, will take the helm Feb. 1 to replace CEO Brian Cornell who will step into the board's executive chairman role, the company said Wednesday. Cornell, 66, who led the company for a decade, said: 'There is no one better suited to move Target forward than Michael Fiddelke.' Advertisement 4 Incoming Target CEO Michael Fiddelke. Target But investors had been hoping for an outside executive to take over the flailing chain, which has reported dismal results in recent quarters and lost ground to big-box rival Walmart. As a 20-year Target veteran who previously served as chief financial officer, Fiddelke will be forced to tackle a persistent slump in sales — compounded by backlash from shoppers over a controversial Pride collection including gear for kids and its end of DEI programs. Advertisement Meanwhile, rampant shoplifting allegedly doomed Target's partnership with Ulta to open mini beauty shops in nearly a third of stores. Target announced last week that the deal was off. Target shares, which have been trading at multiyear lows since the spring, were recently off 7% at $98 after falling more than 10% at the start of trading on Wednesday. Advertisement 'The stock price reflects that there won't be change when change is needed,' Gerald Storch, former vice chairman of Target and ex-CEO of Toys R Us, told The Post. 'The sales are negative and they are bleeding market share.' 4 Target CEO Brian Cornell speaks at a financial community meeting in 2019. AP Target did not immediately respond to The Post's request for comment. Christine Leahy, top independent director of Target's board, said the company has been leading a thorough search – including external candidates – for Cornell's replacement. Advertisement 'We don't know how thorough it was,' Storch countered, adding that a lot of outsiders would have wanted the job. Charlie Gasparino has his finger on the pulse of where business, politics and finance meet Sign up to receive On The Money by Charlie Gasparino in your inbox every Thursday. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters 'Target's value positioning…should be yielding better results than the low single digit revenue decline we expect for Target this year,' David Silverman, senior director of Fitch Ratings, said Wednesday. He nodded to 'the company's recent execution missteps,' which were 'exacerbated by a volatile retail industry.' In a press release Wednesday, Fiddelke laid out his three main priorities: increasing Target's offerings of stylish items, creating a more consistent customer experience and using technology to boost efficiency. 4 Target shares tanked Wednesday after it named a longtime insider as its new CEO. JHVEPhoto – At the same time, Target reported second-quarter earnings that beat Wall Street estimates – though sales and store and website traffic declined once again. Same-store sales, which includes sales on its website and stores open at least 13 months, fell 1.9% compared to the same period last year. Advertisement Customer transactions dropped 1.3% and the average amount customers spent during those transactions slipped 0.6% from the year before. 4 Target reported second-quarter earnings that beat Wall Street estimates, though sales and store and website traffic declined once again. wolterke – Fiddelke said on a post-earnings call that Target's retail sales trends improved from the previous quarter, even though they were still negative. He said sales trends in all six of Target's key merchandise categories improved from the quarter before. Advertisement Every morning, the NY POSTcast offers a deep dive into the headlines with the Post's signature mix of politics, business, pop culture, true crime and everything in between. Subscribe here! Fiddelke said that as leader of the Enterprise Acceleration Office, which Target created in May to speed along its turnaround, he has gotten to take a closer look at where the business is underperforming. The retailer lost ground in home goods, for example, as it focused too much on 'core' items and 'lost some of our fashion and design leadership that's so important in a category like that.' Advertisement Target has made some progress in turning around its home goods category by adding Disney and Marvel-themed bedding to Pillowfort, its private label for kids' room decor, Fiddelke said. 'Now, we need more of those examples across the category, but they give me a ton of confidence that we're on the right path there,' Fiddelke said.
8 hours ago
Target CEO to step down as sales remain sluggish
Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant, the company said on Wednesday. In recent years, Target has suffered sluggish sales as the company weathered consumer boycotts over its Pride collection and a rollback of its diversity, equity and inclusion policies. Michael Fiddelke, who currently serves as chief operating officer, will assume the role of CEO on Feb. 1. Cornell will become executive chair of the company's board of directors. "With the board's unanimous decision to appoint Michael Fiddelke as Target's next CEO, I want to express my full confidence in his leadership and focus on driving improved results and sustainable growth,' Cornell said in a statement on Wednesday. 'Michael brings a deep understanding of our business and a genuine commitment to accelerating our progress," Cornell added. The announcement came as the company reported slow sales over a three-month period ending in August. Sales dropped slightly compared to the same period a year earlier, though revenue picked up from the previous quarter. Net income, meanwhile, plunged 21%, the company said. In a statement, Cornell acknowledged a 'challenging retail environment,' but he touted 'encouraging signs of recovery, including improved traffic and sales trends.' 'As we enter the critical back-to-school and holiday seasons, our team remains focused on consistent execution and building momentum as we look ahead to the new year," Cornell said. Shares of Target fell nearly 8% in early trading on Wednesday. The retail giant, which operates nearly 2,000 stores, has struggled to grow sales and outperform competitors in the aftermath of a pandemic-era shopping boom. Speaking on an earnings call on Wednesday, Chief Commercial Officer Rick Gomez said the company is negotiating prices with suppliers and other partners in an effort to stave off tariff-related price increases. 'What we've said, and continues to be our position, is that we'll take price as a last resort, but our commitment is to offer everyday good value and to have competitive pricing as we think about going forward,' Gomez said.
