Target Boycott Crosses 1 Million Signers, Stock Sinks by $1.5 Billion
by Neil Munro | April 28, 2016
More than 1,000,000 people have signed the boycott pledge against Target, following the secretive decision by executives to open all of their stores’ bathrooms and changing rooms to people of both sexes.
Late Thursday night, roughly 75 people a minute were adding their name to the petition as it clicked over 1 million, just after 10:30 pm Eastern Time.
“That’s a million families who are going to spread the word about Target, so they may not get those customers back,” or their money, said Tim Wildmon, president of the American Family Association, which has hosted the boycott.
The boycott was announced April 20 by the association, one day after Target revealed its decision to favor its few transgender customers and staff over the rest of the population. A study of the 2010 census data suggests that only about 1 in 2,400 adults change their names to match names used by the other sex.
Target, however, is not responding to customers’ opposition. “We certainly respect that there are a wide variety of perspectives and opinions. As a company that firmly stands behind what it means to offer our team an inclusive place to work — and our guests an inclusive place to shop — we continue to believe that this is the right thing for Target, company spokeswoman Molly Snyder said April 25.
Amid the turmoil, the company’s stock edged down from $83.98 per share on April 19 to roughly $81.33 in April 28.
That’s a loss of $2.65 per share, which chops the company’s stock market value by $1.5 billion, down to $48.8 billion. (Read More)
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