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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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