Target’s decline continues
Readers might be interested in learning how Target Stores (stock symbol TGT) is doing these days.
Relative to the Dow Jones Industrial average (DJI) in a year-to-date comparison, the DJI is up 23% as Target's stock has declined 28%. At the same time, Kohls's stock has fallen by 14.9%, while Walmart's has risen 3.1%.
True, there is general weakness in the retail business, but by objective measures, Target is a laggard, and its stock is grossly underperforming in that sector.
Mr. Brian Cornell, chairman and CEO of Target, offers up a number of reasons for his company's dismal performance, but he neglects to cite the boycott over the company's transgender advocacy.
It would be an overreach to directly credit the boycott to Target's troubles. However, a management that dabbles in radical social issues like transgender restrooms does not have its eye on its business or its customers. That is not the formula for success. And for those of a metaphysical bent, I'd say karma has a way of making itself felt sooner rather than later.