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Target Firing Top Execs Right and Left…Stock in Free Fall

Over the last few months, Target has been dumping department heads like they were banana peels.  The latest was the head of innovation.  Prior to that, they fired Target’s head of stores, head of marketing, its human resources boss, and its chief digital officer.  It seems to me that they are firing the wrong people.  The story is evolving.  Originally, we were told that the CEO is the one who adopted the policy that perverts of all sizes and shapes could ply their perversion in whichever bathroom they choose.  Now, the CEO says the directive came from the Diversity Department.  If that’s so, they should fire that whole department.

The scrambling comes after Target suffered three disastrous quarters of sales declines in a row and a loss of over $15 billion this year. The losses came after its April of 2016 announcement that it intended to allow men pretending to be women to use any bathroom or changing room they want to use at any given time.

The announcement sparked millions of people to boycott the company. In one particular case a #BoycottTarget petition organized by the American Family Association has surpassed 1.5 million signatures.

Since April of last year, the company’s brand name has taken a drubbing, and its stock has fallen from a high of $84.14 to $54.78 a share. The fall was bad enough that many investment advisers downgraded Target to a “strong sell” even as its falling price might seem to make it an attractive buy.

This April Target’s CEO was reported as having opposed his own company’s transgender announcement, saying it “frustrated” him that his diversity department made such a fuss over the decision and that they didn’t clear the announcement with him first. Cornell thought the whole situation was mishandled and caused a massive backlash against the company. Insiders say he ultimately backed the policy but felt “stuck” with it.

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