Target may be regretting their decision to change their bathroom policy after they just got hit with some massive losses. Do you think that they will reverse their policy now?
Retail giant Target is losing sales and may be on track for another major stock-drop in the second quarter, analysts say, amid a growing boycott caused by the company’s transgender friendly policies.
The company’s second-quarter sales, from April to June, may drop as much as 2 percent compared to the prior year, executives told reporters and Wall Street analysts. That’s “horrendous,” said Jim Cramer, founder of the stock-market website, TheStreet.com.
Target executives deny the pro-family consumer boycott is making a significant difference. But, according to TheStreet.com, the business-news website,
“We have seen a noticeable slowdown post-Easter,” Target CFO [chief financial officer] Cathy Smith said on a call with reporters. Target’s CEO Brian Cornell, who was also on the call, blamed the slowdown on unfavorable weather trends in the Northeast and volatile economic trends.
Target’s stock has fallen 20 percent — from $84 per share to $67 per share — since it imposed the pro-transgender policy on its customer base of families. That loss has chopped roughly $10 billion from the overall shareholder value of the company, according to a chart produced by Yahoo.com
Read more: Breitbart