How Is Target Doing These Days? Company Hit With Earnings Report
How is Target doing these days after their new "inclusive" bathroom policy lead to a massive boycott? According to a report on Bloomberg, not so well.
Target received a backlash of criticism from conservatives and other common sense individuals when it announced in April that it was opening up all of its restrooms and fitting rooms to customers and employees based on their self-determined "gender identity' regardless of their biological sex. Since then, there have been multiple incidences of men — sometimes dressed as women and sometimes not — spying on women in Target stores.
Target's new policy also prompted a "Boycott Target Pledge" by the American Family Association, which has nearly 1.4 million signatures.
Now Bloomberg is reporting that Target has seen an even worse July than June or May. Cleveland Research lowered its earnings and sales estimates for Target, yet the nationwide retail chain could still not reach them. Cleveland Research now believes that Target's sales dropped by 1.5 percent in the second quarter of this year.
Cleveland Research observed, “Our updated work indicates traffic slowed in July despite more aggressive promotions as the company appears to be losing share in grocery and seeing weakness in discretionary/signature categories. Sales do not seem be improving to start the fiscal third quarter and Target will likely have to remain more aggressive on promotions than originally planned in order to stabilize traffic.”