FRC Cheers JCP's Downturn
Via their daily press release:
As Ford Motors will tell you, siding with radical homosexuals has its price. And in J.C. Penney's case, the cost is about $163 million. According to the Wall Street Journal, J.C. Penney's stock "has lost more than a third of its value since a disastrous earnings report in mid-May, when Penney's posted a $163 million loss and said sales fell 20% in the first three months of its fiscal year." CEO Ron Johnson also admitted that Father's Day sales were a bust. "Penney's shares fell 8.8% Tuesday to their lowest level in a year, [and] store traffic was down 10%."The piece ends with a warning to General Mills.
Obviously, the company's far-Left approach is driving away shoppers--and its executives. Michael Francis was fired after just eight months on the job. Whether J.C. Penney will learn from its mistakes is yet to be seen. But its freefall should serve as a warning to other companies who are itching to jump on the same-sex bandwagon. Catering to homosexuals may earn you a pat on the back from the Human Rights Campaign, but in the long term, it's bad business. Americans want corporate neutrality in the culture wars, and when they don't find it, they'll go elsewhere--like my family has done with J.C. Penney. Shoppers are shrewd enough to know that speaking up is important--but sometimes what speaks the loudest is their wallets.