UPDATE: 1.1 Million Families Boycott Target, Stock Takes $2.5B Hit
Sandy Rios, the Director of Government Affairs for the American Family Association (AFA), gave Breitbart News Daily SiriusXM host Stephen K. Bannon an update on AFA’s Target Boycott efforts, which has now gathered over a million signatures.
“It’s been incredible,” Rios said. “We’ve had quite an outpouring. We have right now 1,137,000 families who signed on to the boycott.”
“Target stocks are dropping. They started dropping the day we announced this boycott,” said Rios. She and Bannon discussed reports that Target has lost as much as $2 billion in market capitalization as a result of the current decline.
Target stock prices dropped in 10 days after the retailer announced a new policy to allow customers to use whichever bathroom or fitting room accords to their gender identity.
On Friday, the shares of Target Corporation Common Stock (TGT) fell 2.52 percent in one day, according to recent reports. In addition since April 19th, the day they announced the new policy, the stock went from a share value of $84.14 to $79.27 per share. That’s a drop of 5.8 percent in 10 days.
The Family Policy institute says they estimate that to be a loss to the company of $2.5 billion dollars.
“Target’s response is that they are standing by their policy. They want everyone to feel welcome, and their solution is that if women are uncomfortable with men coming into their bathrooms, they should use the family bathroom. So, rather than the 0.3 percent of the population that claim the transgender status, they want the women to use the family bathroom,” she added.
Continued Rios, “The chief concern, even more than the trauma for little girls of having men dressed like women coming in their bathrooms, the chief concern of the American Family Association is the predators who will take advantage … and we have a long list of predators who have done that.”
“This is not going to stop with Target if we don’t take a very strong stand now,” Rios said. “I would say on the positive side, we’ve had other corporations come to us privately and say they’re watching. They were considering changing their policies, but they’re watching this boycott and they’re saying, you know, maybe not. Maybe we’re not going to go in that direction. So, a lot hinges on it, and this is something simple that people can do. We are in dialogue with other companies, other corporations encouraging them not to do this. And of course if they do, we’ll have to apply the same thing that we applied to Target,” she concluded.
Rios also noted: “I don’t know if people realize that the Obama Education Department has been pushing this whole thing of breaking down the barriers in the bathrooms in public school now this whole year. They are actually threatening to withhold money from schools if schools do not accommodate children, boys and girls who think they are the other gender … that they can lost their funding. So, this has been a battle by school boards. There’s a huge one that went on in fairfax, Virginia, just this past year and they lost. The parents lost.”