The Rushmore Report: Target Stock Takes Hit after Transgender Stance

Target has decided to open its restrooms and fitting rooms to anyone regardless of their biological sex. In response, the American Family Association launched an effort calling on Americans to boycott Target. The boycott effort has been very well received, with more than 1.2 million people pledging to boycott the store, and now some are noting that Target’s sales and stock have taken a huge hit in the past month.

A few months ago, the big box retailer announced that its guests and team members can use restrooms or fitting rooms that correspond to their gender identity. According to the Associated Press, Target became the first major retailer to publicly stand up for so-called transgender rights.

At the same time, they drew unwanted attention at a particularly sensitive time, potentially harming the Target brand and stock. The decision to weigh in so strongly on such a divisive issue has to be troubling for holders  of Target stock. Since the retailer’s announcement, TGT stock has dropped 6.5 percent.

About the Author

Jerry Cox is the founder and president of Family Council. He began Family Council in 1989 after a successful effort to amend the Arkansas Constitution to prevent the use of public funds for abortions. He and his wife reside in Little Rock. They have four sons.

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