The Target campaign began on April 21, and the company’s second quarter report was the first to reveal whether or not the boycott by 1.4 million consumers was having an impact.
Analyzing the report, AFR’s Dan Celia, president of Financial Issues Stewardship Ministries, said same-store sales dropped 1.1% compared to the second quarter last year – a loss of $1.3 billion. Foot traffic in stores was also down 2.2%.
“And notably, same-store sales are down for the first time in more than two years,” Celia said. For instance, last year’s second quarter sales for Target jumped 2.4%.
Total revenue for the retailer fell 7.2% in this year’s second quarter.
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