Politics Forum - Expanded Thread Page

Subject: Target Shares Plummet, Hit 2-Year Low

[Back] [Return to Top of Forum]

Ed Gooding (VA)    Posted 03-05-2017 at 10:14:48 [URL] [DELETE]        [Reply] [Email]  
  • Target Shares Plummet, Hit 2-Year Low
  • Target Shares Plummet, Hit 2-Year Low After Mass Conservative Boycott Over Bathroom Policy
    Mar 1, 2017 | 9:25 AM

    Chain store giant Target, the subject of a conservative boycott over its transgender bathroom policy, saw its shares plunge to a two-year low in its fourth quarter 2016 earnings.

    Reuters reported that although Target saw its e-commerce business rising, it was hit by its third straight quarter of lower sales from existing stores, with Brian Cornell, chairman and CEO of Target, admitting that there was "unexpected softness in our stores."

    "Target also forecast first-quarter profit short of Wall Street estimates. Shares sank 12.1 percent to $58.79, their biggest one-day percentage drop since 2008," Reuters described.

    "The stock has lost a quarter of its value since the holiday shopping season started in November, back to levels last seen in August 2014."

    Several conservative organizations, such as 2ndVote and the American Family Association, campaigned heavily throughout 2016 for families to take their business elsewhere, arguing that Target's decision to allow people to choose the restroom or changing facility that corresponds with their gender identity left women and girls exposed to the dangers of sexual predators.

    "This Christmas shopping season, customers sent a clear message by taking their dollars #AnywhereButTARGET and it's not surprising," 2ndVote Executive Director Lance Wray said in a statement.

    Wray accused Target of "pushing a radical agenda over common-sense and safety," and said that the giant retailer is shooting itself in the foot by continuing to hold onto such policies.

    "2ndVote's #AnywhereButTARGET campaign is helping conservatives and concerned shoppers engage Target directly for their politics and providing alternative shopping options that are a better match for their personal values," Way continued.

    "Target's disastrous fourth quarter is showing retailers that customers would rather do business with companies that do not carry the water for the liberal agenda."

    Target has defended its policy by insisting that they are aimed at helping people feel comfortable.

    "We welcome transgender team members and guests to use the restroom or fitting room facility that corresponds with their gender identity. ... Everyone deserves to feel like they belong," the company said in 2016.

    AFA President Tim Wildmon pushed back against that argument in September and wrote that "Target's policy is exactly how sexual predators get access to their victims. And the proof keeps mounting."

    Cornell said in his latest statement that Target is looking at "long-term, sustainable growth," revealing that the retailer will invest in lower gross margins to become more competitively priced.

    Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh, positioned that Target is making missteps in its business, however.

    "Target didn't do its job of trying to engage its customers and the theory is they may have lost the ability to do it," Forrest said. "That's what the [stock] market is telling you."

    AL CT    Posted 03-06-2017 at 09:27:38 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Target Shares Plummet, Hit 2-Year Low
  • Just like most of my friends and family, I've not been their store since they went with the transgender bathroom decision. Thanks for the information (mentioned below) about their position on a permit to carry individual (carrying) not allowed in their store. Another firm reason not to pass their thresh hold.

    poderac    Posted 03-05-2017 at 21:00:46 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Target Shares Plummet, Hit 2-Year Low
  • I think I goofed on the first post, but the message is still there.

    I haven't been in a target store since they refused to lettt    Posted 03-05-2017 at 20:59:28 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Target Shares Plummet, Hit 2-Year Low
  • I haven't been in a target store since they refused to let the Salvation Army set a kettle out front. The bathroom deal just gave me another reason to stay out.

    Bruce(OR)    Posted 03-05-2017 at 20:10:52 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Target Shares Plummet, Wha'd she say??
  • Dive Baby, Dive!
    Oops. Mea culpa.
    That was something about drilling. . . .
    my bad.

    JerryU    Posted 03-05-2017 at 19:58:03 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Target Shares Plummet, Hit 2-Year Low
  • I find it interesting that whoever is the finance man figured out that losing money at an unprecedented rate in order to make 1-2% or so of the general population (probably not that high in the customer base) was worth it. Think that person might be looking for a job and maybe the shareholders a little angry?

    Jim Rushford (CA)    Posted 03-05-2017 at 16:13:37 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Target Shares Plummet, Hit 2-Year Low
  • Target is also a "gun free" store which means that although I am licensed to carry, I cannot carry in their store. Haven't been in one of their stores since they made that announcement.

    Joe in Texas    Posted 03-05-2017 at 12:57:35 [URL] [DELETE]        [Reply] [Email]  
  • Re: Target Shares Plummet, Hit 2-Year Low
  • Not to sidetrack a thread, some things have taken place here in Lubbock, Texas that I find interesting.

    One thing is the local Target store seems to have lots of parking close to the store now, the lot is never over a quarter full.

    I have been seeing some changes in restrooms in various places that solves the problems involved. One example is a local doctor's office complex, four story building, that used to have two restrooms on the bottom floor with multiple stalls in each, labeled "men" and "women". They remodeled both, replaced all the fixtures inside them with one handicapped style commode, and put a lock on the doors. They are now labeled simply: "Restroom" with the symbols for men and women and a handicapped symbol as well. Only one person can go in at a time and lock the door behind them.

    Several other businesses have done that, some have put signs on the outside stating there are no public restrooms inside.

    [Back] [Return to Top of Forum]