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After Target announced a month ago that biological men who identify as women would be allowed to use the women’s bathroom, Target’s stock has plummeted 12 percent.
But, Target CEO Brian Cornell says it has nothing to do with transgender bathroom policy and everything to do with the weather.
In a statement to the Wall Street Journal, Cornell said the plummeting stock is largely due to a season of thunderstorms and rain.
“It’s been a very wet and cold start to the year and it’s reflected in our sales,” Cornell said. “We haven’t seen anything from a structural standpoint that gives us pause.”
The free-falling stock value for Target came after over a million customers have signed a ‘Boycott Target’ petition by the American Family Association in a huge consumer backlash against the retail store.
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Target’s stock prices plummet as boycott surpasses 1 million! How much has superstore lost?
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