Target Stock Continues to Tumble Amid Boycott
According to Family Research Council, Target stock continues to reel as Americans boycott the company until it changes its policies announced two months ago concerning restrooms and changing areas in its stores.
With its profits in the gender-free toilet, Target CEO Brian Cornell was on the hot seat with investors for the decision, which analysts say has cost the retailer more than $4.5 billion — and counting.
Worried about crashing stocks, Cornell was pressed about the negative fallout from the unpopular policy. He insisted (with a straight face) that there was none. “Zero correlation, zero effect,” he declared. That’s a convenient response, but not a truthful one. As everyone on Wall Street knows, Target’s stocks have taken a nearly 20-percent nosedive since April 19, when the change was announced. If there was zero correlation, why are Walmart and online retailers holding steady? Clearly, the boycott — the most successful in American Family Association’s history — is having an enormous impact on Target’s bottom line. But, much like Starbucks’s CEO, who doggedly stuck by his company’s anti-marriage campaign, Cornell made it known that he didn’t care what consumers’ think.
Family Research Council has written extensively about specific cases that demonstrate policies like Target’s can be abused, endangering the safety and privacy of others. You can read their overview here.
The American Family Association is asking Americans to boycott Target. So far, approximately 1.3 million have done so. You can find information about the boycott here.
Photo Credit: By Mike Kalasnik from Fort Mill, USA [CC BY-SA 2.0], via Wikimedia Commons.
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