• September 30, 2022

Target Shakes Up Executive Suites After Stock Drops 12%

mark-olivia

Target has hired former Nordstrom president Mark Tritton in order to try to make up lost revenue caused by their ill conceived bathroom policy.  Tritton will be in charge of  buying, merchandise sourcing, and product design and development.

From Breitbart News:

The change in the executive offices follows a massive boycott effort that spurred over 1.2 million customers to sign a petition criticizing the company’s decision to open its changing rooms and bathrooms to people of both sexes.

The chains denial of sexual privacy for its consumers seems to hurting its bottom line. With a stock-market value of $50.39 billion in February, Target’s market cap has beendropping steadily since it has announced its bathroom policy April 19. By the second week of May, the chain’s value had flattened to about $43.9 billion, down $6 billion from April 19.

Even as other retailers saw a drop in President Barack Obama’s floundering economy, Target’s 12 percent loss is greater than many other firms. Costco declined only 6 percent and Walmart fell just 6.9 percent during the same period.

Certainly some part of that loss is due to Obama’s weak economy–but no company is helped by so many management decisions that anger so many customers.

Since announcing their decision to allow perverts to enter women’s bathrooms, the market cap for Target has dropped from dramatically and a petition against their policy received 1.2 million signatures.  Coupled with several recent sexual incidents since the Target pervert assistance program has been put in place, one would think if the board doesn’t move to act, stockholders will either vote out the board, or failing in that dumping Target stock, which would lead to another large drop in their market cap.

It will be interesting to see if this is the only major move or just the first of several.

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