Walmart hiring additional greeters.
Target’s stock price and its favorability among shoppers are crashing as the public rebukes the retail giant for ignoring their vigorous protest against mixed-sex changing rooms and bathrooms.
The company’s stock was two cents shy of $84 on August 19, when it revealed it would not allow shoppers to use single-sex bathrooms or changing rooms. Instead, all rooms were opened up to anyone claiming to be of either sex. As of 4.00 p.m. Friday, the stock had dropped almost $4.50, down to $79.50.
That’s a huge loss of 5 percent in stock value, costing shareholders roughly $2.5 billion in company value.
In between those two dates, more than one million people had signed a boycott petition sponsored by the American Family Association. Public opinion also shifted strongly in favor of single-sex bathrooms.
The damage to Target’s favorability is also being tracked by YouGov’s BrandIndex service.
By April 27, “The percentage of consumers who would consider buying items at Target the next time they want to go shopping at a department store dropped from 42% to 38% over the past two weeks,” YouGov reported April 29. That’s a 10 percent drop, likely fueled by social-media conversations via Facebook and various news sites.
HT: Snyper 77