You’d think Target would have learned from the company-destroying mistakes of JCPenney in 2012. But no, they haven’t.
By 2013, when JCPenney fired its CEO, Ron Johnson, for refusing to acknowledge his customers’ disdain for the company’s choice of Ellen DeGeneres as their same-sex marriage-supporting spokesperson, and their two-dads Father’s Day ad, their sales had declined a full 25 percent.
Whether the retailer will learn from its mistakes is yet to be seen. But J.C. Penney’s freefall should serve as a warning to other companies who are itching to jump on the same-sex bandwagon. Pandering to those who want to redefine marriage (and the rest of society with it) may earn you a pat on the back from the Human Rights Campaign, but in the long term, it’s bad policy.
Now Target’s idiotic gender blender bathroom policy has begun to hit home, with the company’s stock in a near freefall since the April 19 announcement and subsequent boycott by the American Family Association.
Target common stock dropped from opening price of $83.50 per share April 19 to a closing price of $79.99 per share May 3—a 4.2 percent decline over the past two weeks. Its closing price of $83.98 on April 19 was the highest since July 2015.