As Toll From Trans Bathroom Policy Grows, Target Agrees To Meet With Group Leading Boycott
The boycott of Target in response to its transgender bathroom policy is hitting the retail chain hard financially.
As reported by Western Journalism, Target announced on April 19 a new policy welcoming “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 new corporate policy came in response the North Carolina “bathroom law,” HB2, which requires men and women to use the public restrooms corresponding to their biological gender.
Several pro-family groups stated that the Target policy places women and children at risk by allowing men to enter the women’s restroom. The American Family Association began a petition to boycott Target until the policy is changed, which has garnered over 1.1 million signatures in less than two weeks.
Wall Street took notice. Target’s stock has fallen nearly 7 percent since the new policy was announced, from $83.98 on April 19 to $78.13 as of May 5. That represents about a $3.5 billion drop in the retail giant’s overall stock value.
The company’s brand perception has taken a hit as well. USA Today reported that the percentage of people stating they would shop at Target has dropped from 42 percent to 38 percent since April 19.
As the number of people signing the petition to boycott the store mounted, Target stood by its position, at least as of last week.
Target told NBC News on April 25, “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.”
However, Todd Starnes with Fox News reported on Thursday that the retailer now plans to meet with American Family Association, the sponsor of the boycott petition.
— FOX Business (@FoxBusiness) May 5, 2016
The AFA has offered that one solution to the problem would be for Target to add unisex restrooms to its store locations, while maintaining separate ones for males and females.