Target CEO Brian Cornell: The Boycott Isn’t Hurting Us

Fortune reports:

Target reported a disappointing set of first-quarter results on Wednesday and warned investors to expect a slight drop in business in the current quarter. The discount retailer pointed to many factors pinching sales, damp and cool weather in parts of the company and skittish consumers, among them.

But one thing not hitting sales is the purported boycott of Target by many customers offended by the company’s announcement last month that it would allow transgender customers and employees to use the bathroom in its stores that aligns with their identity. That came soon after a controversial law in North Carolina was passed about the use of bathrooms.

He did allow that just a few stores had some some protests and took a bit of a hit sales wise, but on the whole, the 1,800-store retailer didn’t feel anything. “To date we have not seen a material or measurable impact on our business. just a handful of stores across the country have seen some activity and have been impacted,” he added.

At this writing Target stock is down nearly 8% on today’s earnings report. Sears, Walmart, Costco, and Best Buy are also down. (Tipped by JMG reader David)