When big name discount retailer Target announced last April that its customers could begin using whichever bathroom they please, the company’s stock was worth a bit under $84 per share.
As of Thursday, the stock stood at just $66.41, slightly up from a record low Monday of only $63.42. Given that the rest of the stock market has been booming since President Donald Trump was elected to office in November, it is evident the precipitous drop was not inspired by economic concerns but more likely by public outrage.
According to a Pew Research Center poll published last September, 46 percent of Americans believed “transgender people should be required to use the public restrooms of the gender they were born into.”
While it was true that a 51 percent majority felt otherwise, it is equally true that 46 percent of Americans still represents a huge chunk of potential customers. And if these consumers subsequently made the choice to avoid transgender-friendly stores like Target, that could very well explain the company’s estimated $10 billion drop in market value.
Recall also that, after Target made its announcement last April, the American Family Association launched a “Boycott Target” petition that quickly swelled to over 1.5 million participants.
Assuming everyone who signed the petition used to spend an average of $50 per month at Target, which is a very low-ball estimate, it would mean Target is now losing out on $60 million of potential revenue every single month. That is a lot of money.
The company’s decline has extended beyond just its market value, however. As reported by the technology news website Recode, Target was forced in early February to shutter its highly anticipated “Store of the Future” project, which according to reports was to have featured “robots picking items behind the scenes to have ready for customers as they checked out.”
Target has since tried to explain away this announcement by imputing the so-called normal ebb and flow of business. But it is clear to anyone in possession of a rational mind that the real reason for this once-thriving retailer’s inexorable decline is its misguided decision to embrace the perverse progressive ideology that says men are women and women are men.
Sorry, Target, but men are men and women are women — and that is the way it has always been and always will be.
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