Target stock prices in dramatic fall after more than a million peple boycott store over transgender bathroom policy

Chiqui Guyjoco Wednesday, May 04, 2016

Target retail store in Richmond, British Columbia. | Reuters/Ben Nelms

More than a million shoppers have pledged to boycott the retail company due to a bathroom policy that allowed its transgender customers and employees to use the bathroom according to their gender identity. This boycott has led to a dramatic fall in Target's stock prices from $84.10 per share on April 19 when the announcement was made to about $79.36 just last Friday.

In a public statement released, Target has clearly made its stand regarding the issue of Lesbian, Gay, Bisexual, and Transgender (LGBT) and gender equality with its inclusive bathroom policy. "In our stores, we demonstrate our commitment to an inclusive experience in many ways. Most relevant for the conversations currently underway, we welcome transgender team members and guests to use the restroom or fitting room facility that corresponds with their gender identity," Target has then announced and added, "Everyone deserves to feel like they belong. And you'll always be accepted, respected and welcomed at Target."

Conservative groups and most prominently the Christian activist group American Family Association spearheaded the boycott campaign as they believe that Target's bathroom policy will only pose as a threat to their wives and daughters.

The group's president Tim Wildmon wrote in their online petition, "Target's policy is exactly how sexual predators get access to their victims. And with Target publicly boasting that men can enter women's bathrooms, where do you think predators are going to go?"

The Family Policy Institute of Washington also released a statement stating that the drop in Target's stock prices is indicative of just how much the American people are uncomfortable with the policy.

The group believes that the consumers' boycott makes Target lose its appeal to the investors and may even trigger companies to ultimately cease doing business with the giant retailer.

In a response to the company's dramatic fall in stock prices and the boycott that triggered it, Target said in a statement to Today that the company still believes they're doing the right thing with its inclusive bathroom policy.