Target is finally feeling the heat of their controversial bathroom stance. Financially they are taking a hit, and the over one million people that signed the petition could not be happier…
After taking a massive financial hit for their transgender bathroom policy, you’d think Target would reconsider in order to preserve their business.
Instead, they doubled down, and took yet another $2 billion hit as their stock crashed for a second time.
“We’re going to continue to embrace our belief in diversity and inclusion, just how important that is to our company,”CEO Brian Cornell said in a May 11 appearance on CNBC’s “Squawk Box” business show. “But we’re also going to make sure our focus on safety is unwavering,” he added.
To mollify the public angered by his removal of single-sex restrooms and changing rooms, the company will add family bathrooms to all of its stores, he said.
We’re committed over the next few months, to make sure every one of our stores has that option, because we want to make sure that our guests be welcomed in our stores. But if there’s a question of safety, I can tell you and others, our focus on safety is unwavering, and we want to make sure we provide a welcoming environment for all our guests, one that’s safe, one that’s comfortable.
But Cornell did not offer to return single-sex changing rooms, which is likely the most unnerving element in the company’s new open-door, pro-transgender agenda.
But his pitch failed — the company’s stock crashed by roughly $3.50 per share after his appearance, down to the $75.70 level, despite a reassuring thumbs-up from one of the channel’s experts. “Target – it’s going higher, this thing is too cheap,” said CNBC’s Pete Najarian.
Target’s stock fell by 5.43 percent during the day, more than rivals J.C. Penny, which was down 2.47 percent. and WalMart, down 2.75 percent. But other retailers lost heavily – Kohl’s was down 6.02 percent and Sears dropped by 5.35 percent, amid bad news from President Barack Obama’s tepid economy.
Read more at Breitbart