Target adding private bathrooms at all stores Transgender policy costing retailer another $20 million amid slumping sales Published: 2 hours ago
Plunging sales and a market cap crash of an estimated $11 billion have convinced Target to try to persuade customers with traditional values that their restrooms still are safe after the company announced earlier this year that people could use the facilities of the gender with which they ‘identify.”
On Wednesday, Fortune reported, the company announced plans to spend $20 million to add private single-stall locking bathrooms at many of its stories.
The report directly blamed the drop in shopper traffic at least partly on the retailer’s “transgender-friendly” bathroom policy.
That move in April prompted hundreds of thousands of Target shoppers to sign petitions and pledges to avoid the retailer.
Company officials downplayed the impact of the customer reaction in May when the next quarter report revealed plunging numbers and again this week when the numbers fell further.
Cathy Smith, the company’s chief financial officer, admitted in a media briefing this week “some of our guests like and some dislike our inclusive bathroom policy.”
So the company is planning to add the single-stall bathrooms in stores that don’t already have them. It will work on the renovations until November then shut down work over the Christmas shopping period and resume after the holiday.