Will BOYCOTT Of Target Hurt The Company? Market Expert Says...
Christians and conservatives have boycotted companies like JC Penney, Disney, Starbucks, and Carl's Jr., among others, for taking a public stance on things many they themselves don't agree with. The success of these boycotts have been mixed, but it's clear all of these companies are still in business. Does Target have reason to worry?
According to market analyst Brian Nichols of InvestorPlace, maybe so.
The company caused an uproar last week when it publicly announced its "inclusivity" policy that allows customers and employees to use the restrooms and fitting rooms that match their "gender identity" rather than their biological sex. In fact, the outcry was so great that an American Family Association "Boycott Target Pledge" has already received almost 755,000 signatures as of 1:15 p.m. Pacific.
Nichols believes the number of signatures could easily surpass 1 million (Author's note: I believe it'll happen tonight or tomorrow), and that's enough to make the company and its investors pay attention. The number of people upset by Target's transgender restroom decision is already greater than the number of people who identify themselves as transgender in the U.S.
And, Nichols points out, this comes at a time when Target's revenues were already projected to decrease 3% this year as competition intensifies from Amazon.com, Walmart, and Kroger.
Holding Target stock seems like risky business at the moment," Nicholas writes, "and investors need to see how serious protesters are in their clear dissatisfaction with Target’s newest policy."