Catering to transgender “crowd” (0.3 % of the population) costs Target $10,000,000,000.00

From: breitbart.com,  by Warner Todd Huston,  on Jun 8, 2016,  see the article HERE.

Target CEO Clings To Transgender Mixed-Sex Changing Room Plan, Despite $10 billion Loss

Target logo

Target’s CEO Brian Cornell refused to change course when confronted this week by shareholders who are alarmed by his expensive push for a transgender, mixed-sex changing-room policy that has helped wipe out almost 20 percent of the company’s value.

Cornell told the annual meeting of investors that the company intend to stick with the April 19 transgender policy — which requires its customers to use mixed-sex changing rooms and bathrooms — and he even insisted there has been no financial repercussions, despite a $10 billion Wall Street loss in the months since the policy was announced.

Cornell was pressed about the financial impact of the policy by investors, including Justin Danhof, the director of the National Center Free Enterprise Project.

“Target’s shareholder meeting was appalling from beginning to end,” Danhof said in a press release after the meeting.

Liberal corporate leaders such as Cornell throw around the words ‘diversity’ and ‘inclusion’ so much they are starting to lose their meaning. In addition to my question, two other shareholders also expressed concern over the company’s offensive bathroom policy. Cornell just kept repeating the same vacuous lines about diversity and inclusion. He doesn’t seem to get that he has offended the sensibilities of millions of Americans.

Danhof asked why Cornell claimed via the media that his pro-transgender policy is just like ordinary civil rights for black, and asked if Cornell thought everyone who stood against the store’s policy were like racists and were bigots.

The question is based on an interview the CEO gave to CNBC. “We’ve had a long history embracing diversity and inclusion. A couple weeks ago, one of our team members sent me a note reminding me that if we went back to the mid-60s, our company was one of the very first to use African-American models in their advertising, and back then, it wasn’t well received,” he said.

Danhof explained his exchanges with Cornell in a Breitbart interview.

My question dated back to last month when Cornell defended the company’s position and policy by comparing what they’re doing with their bathrooms to their 1960s era use of black models by claiming it wasn’t well received then. Well, that is shocking and appalling. What he is doing is making a moral equivalency of those who think his bathroom policy is outrageous and offensive today, so to those who oppose his bathroom policy he is basically comparing them to racists from the 1960s. And basically labeling everybody as a bigot.

Cornell wouldn’t answer the question, prompting Danhof to say, “So, by implication, of course he thinks everyone that disagrees with him is a bigot. Otherwise he would have said no.”

The CEO declined to answer questions over the pro-transgender policy posed by other investors.

Cornell was also asked if the company had conducted a cost-benefit analysis of the pro-transgender policy before issuing it. The CEO didn’t answer this question either.

Cornell insisted Target has suffered no negative financial impact due to the much hated bathroom policy. He claimed Target has seen “zero, ZERO, negative financial implications from their policy,” Danhoff said.

“But from the announcement and from the last time I checked the stock price the stock had fallen. Target’s stock price was $83.98 the day of the announcement. On Monday, it was $68.81. That’s an 18 percent drop in seven weeks,” Danhof told Breitbart.

Targets traffic falloff

Even if there’s other financial issues going on in the company, to claim that there’s zero correlation between that announcement and an 18 percent stock drop in seven weeks, that borders on fiduciary negligence. It just goes to show that they’re perfectly willing to lie to their investors. It’s shocking that they would claim that there’s no correlation there.

Data tracking firm RS Metrics has been watching Target since the boycott began, and it found a “noticeable fall” in traffic at Target locations. Furthermore, RS Metrics found a corresponding rise in traffic at Target’s main competitor, Walmart.

“We observed a noticeable fall off in traffic at Target during the last week in April and a meaningful pickup at Walmart during that same time,” Richard Chmiel, chief executive of RS Metrics said. “We suspect the bathroom boycott which was gaining momentum at that time contributed to the shift,” Chmiel added.

According to The Street, “Target’s second-quarter guidance rattled investors. The company expects earnings between $1 and $1.20 a share, compared with a previous consensus estimate of $1.36 a share.”

For his part, Danhof said he’s never seen such a dismissive attitude from a company. “If you disagree with their position on diversity and inclusion that means nothing [to them]. It seems, at least from my perspective, if you disagree with them, they don’t want you around,” Danhof concluded.

-~~~~~~~~~~~

Target’s CEO Brian Cornell must have studied at Trump University since he apparently learned The Donald’s penchant for never backing down even when he obviously screwed up. He apparently majored in Never Admit Error, minored in Dumbassery and graduated with honors.

Cornell likened this transgender policy to the company’s use of black models in advertising in the 60’s. But there are major differences in that false comparison. In the late 60’s there were about 20 million blacks in the country. The transgender group that he is directing the new policy for numbers only about 700,000. And advertising isn’t as up close and personal as a store’s rest rooms are. It’s pretty hard to equate the two in order to call those revolting against the transgender policy “bigots.”

CEO Cornell had a stellar resume prior to taking the Target job and you’d think that he might have learned a thing or two by holding a top position or being a board member at Safeway, Michaels, Sam’s Club, Office Max and Home Depot. But in spite of that on-the-job training, it seems that he failed the test of the First Law of Holes: “when you find yourself in one, stop digging.”

Instead of recognizing that his policy has alienated customers to an extent that he didn’t expect and reversing course, he took a hard line and maintained that Target saw no negative impact due to the policy.

What does he call an 18% drop in Target’s stock?

No big deal, it’s only $10 billion dollars.

 

 

Garnet92.



Categories: General

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8 replies

  1. Today TGT is down to 67.69, down almost another point. It’s true most retail is suffering but their downward slope is gradual. TGT has simply plunged steeply since their decision for transgenders and the boycott. Ours has a pretty empty parking lot all of the time. It will be interesting to see if and when retail comes back if TGT returns as well. Or will they go Ch11?
    We have come to like Kohls and Walmart and Sams and Kmart. Kmart has been not doing well. Perhaps they will have a surge in profit…

    Like

    • I’ve seen other articles commenting on the reduction in the number of customers at Target stores. And yet, Mr. Cornell still refuses to admit that any of the brand’s ills are attributable to his acquiescence to transgendered people. I hope Target can survive on .3 percent of the population (and their sympathizers).

      Liked by 1 person

  2. Well, there’s another issue which invalidates the attempted comparison, too.

    Being black is simply an issue of melanin; skin coloration. It’s a natural condition.

    Being “tansgendered” is a mental disorder. It’s NOT “natural”; it’s abnormal by nature.

    Liked by 1 person

  3. Comparing the bathroom issue to the use of black models is apples and oranges. Models pose no potential harm to others, so that argument doesn’t cut it.

    Cornell is repeating the same vacuous lines over and over, because like most libs, he’s got no real substantive argument for continuing this policy. He sounds like the man-child O insisting that we play the game his way period. Maybe it’s not such a stellar resume after all, but instead his attitude had him job hopping. He’s ignoring the stockholders’ wishes so it’s just a matter of time before they start to bail. If the stock continues to drop, he won’t have to worry who’s using the restrooms.

    Liked by 1 person

    • I’ll see your “apples and oranges” comparison and raise you a “flea and elephant” comparison. He’s not only ignoring stockholder’s wishes ( a very dangerous move), he’s also ignoring the store’s customers. It will be fitting (pun intended) for Mr. Cornell when the Board of Directors ignores his plea for more time and hires his replacement.

      Like

  4. This ridiculous crusade is just the latest example of liberals satisfying their needs to feel powerful and superior by forcing us to dance to whatever tune they want and staking out a “cause” that puts them at odds with us commoners. As long as they are allowed to do this without punishment or consequence the crusades will continue until the world as we know it is turned completely upside down, at which point they will start reversing themselves to keep the crusades going because their egos are insatiable.

    Walmart’s stock went up a dollar or two in the same period that Target lost 18%. Let’s hope the punishment continues.

    Liked by 1 person

    • It’s really difficult for me to understand how this guy who is (apparently) thought to some kind of retail guru refuses to recognize the error of his policy. I mean, really, shouldn’t $10 billion dollars of lost stock value get your attention? He’s got a case of “never admit failure”-itus, no doubt picked up at Trump University, Sad.

      Like

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