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And back then it wasn't well received we had a lot of tough feedback." Target CEO Brian Cornell in an interview on CNBC's program Squawk Box compared the store's transgender bathroom policy to African American civil rights breakthroughs in the 1960s, saying, "A couple of weeks ago, I had one of our team members send me a note, reminding me that if we went back to the mid-sixties, our company was one of the very first to use African American models in their advertising. Target continues to grasp for alternative explanations for its loss of business, however, citing slumping electronics sales and decreases in visits to their in-store pharmacies.
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The losses prompted the chain to suddenly call off expansion projects, which were intended to keep Target on the cutting edge of retail, one of which involved small storefronts connected to large warehouses with robots picking products for customers, not dissimilar to what happens at an Amazon fulfillment facility. The boycott, organized by the American Family Association, has caused an ongoing plummet in Target's stock, which fell 13 percent in February alone, resulting in $15 billion worth of loss in stock value. The policy prompted a boycott by an estimated 1.2 million people. The policy was announced on the Target website, featuring its signature bullseye logo with half of the symbol converted to a rainbow. The "Take Pride" campaign is a follow-up on the chain's so-called transgender bathroom policy, implemented last year, which allows men to use women's restrooms and vice versa.