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Disney, Target, and Anheuser-Busch found out what going WOKE does to the bottom line. Don’t let anybody fool you. A corporations first loyalty is making money for the stockholders.
This social loyalty to the bottom of the barrel gets you nowhere. The WOKE crowd doesn’t care. Look what going WOKE did for Disney, Target, and Anheuser-Busch.
As sales began to plummet, Brendan Whitworth, the CEO of Anheuser-Busch, addressed the controversy on April 14, claiming the company “never intended to be part of a discussion that divides people.”
By May, Anheuser-Busch had dropped $27 billion in market value and sales were down nearly 30% compared to the previous year.
In July, the company announced it was laying off hundreds of workers. In its third quarter, the company suffered a 13.5% decline in U.S. revenue and a 17.1% decline in North American sales volume.
Target’s stock took a hit and its sales experienced a downturn in its second quarter. CEO Brian Cornell acknowledged the impact the fallout had on sales in a call with reporters in August, FOX Business reported.
“Finally, people are seeing that when companies get involved in these social and political issues that have nothing to do with their mission and their stock price plummets — that’s bad for these companies, that’s bad for people relying on them just to make them money so they can retire with dignity,” Frericks said
Disney’s stock price is down over 5% year to date compared to the benchmark S&P 500, which is up more than 13% in that same period. Meanwhile, Disney shares have dropped over 29% in the past five years and have traded near nine-year lows in October.
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