Target Stock Plummets as Bathroom Boycott Surges
There are two indisputable facts surrounding Target’s decision to allow men to use the same bathrooms and changing rooms as women and little girls. First, Target’s stock has taken pounding since April. Second quarter earnings fell to $680 million, according to Market Watch. And revenue fell 7.2 percent. Second, more than 1.4 million consumers have joined American Family Association’s nationwide boycott of the nation’s second-largest discount retailer. The debate is whether there is a correlation between those two facts. Target CEO Brian Cornwell told Fortune magazine in May that the transgender bathroom policy has nothing to do with their financial wellbeing.
There are two indisputable facts surrounding Target’s decision to allow men to use the same bathrooms and changing rooms as women and little girls.
First, Target’s stock has taken pounding since April. Second quarter earnings fell to $680 million, according to Market Watch. And revenue fell 7.2 percent.
Second, more than 1.4 million consumers have joined American Family Association’s nationwide boycott of the nation’s second-largest discount retailer.
The debate is whether there is a correlation between those two facts.
Target CEO Brian Cornwell told Fortune magazine in May that the transgender bathroom policy has nothing to do with their financial wellbeing.
“To date we have not seen a material or measurable impact on our business,” he said. “Just a handful of stores across the country have seen some activity and have been impacted.”
But American Family Association believes their boycott is having a significant impact on Target’s bottom line.
“After seeing Target’s latest earnings report, the retailer can’t afford to have millions of families shopping with their competitors,” AFA president Tim Wildmon wrote in a statement. “The privacy and protection of women and children is important and that is why we will continue to stand against Target for its reckless policy.”
Last week, Target announced it would be spending millions of dollars to add private single-stall bathrooms at many of its stores.
Fortune reports the decision was made as Target tries to reverse a drop in shopper traffic, “some of which may have been caused by the retailer’s transgender-friendly bathroom policy.”
“It’s clear that some of our guests like and some dislike our inclusive bathroom policy,” Target chief financial officer Cathy Smith told Fortune.
That’s what we call an understatement, kids.
AFA says Target’s single-stall bathrooms will still endanger women and children. Therefore, it plans to continue the boycott.
“We still believe Target doesn’t value the safety of families because they’ve refused to reverse this dangerous policy,” Wildmon said.
In a letter obtained by Fox News, Wildmon explains his concerns to Target’s chief executive officer, Brian Cornell.
“We do not feel that the transgender community poses a threat to other shoppers,” Wildmon wrote. “Our major concern was that Target’s policy would grant voyeurs and sexual predators easier access to their victims by allowing men in women’s restrooms and changing areas, which puts women and girls in danger.”
Wildmon noted incidents involving such activity at Target stores in Massachusetts, Idaho and Texas.
“Unisex bathrooms are fine, but our request has always been that Target maintain the gender-specific bathrooms as well — if the company is interested in guaranteeing the safety and privacy of women and girls who patronize the retailer’s stores,” Wildmon wrote.
He said the boycott will remain in place “until Target agrees that protecting the safety and privacy of women and children is of paramount concern.”
