"It's fair to say that Minneapolis-based Target is going through a rough patch as a result of declining sales and customers. After facing boycotts, tariffs, and a massive surge of federal U.S. Immigration and Customs Enforcement (ICE) operations in its hometown, Target, long overdue for a big change, made one this weekend-appointing a new CEO. Michael Fiddelke, who began his career at Target more than two decades ago, officially took over as chief executive officer on Sunday."
"'While we have real work to do, we are clear on who we are, our unique place in retail and in the hearts of our guests,' Fiddelke said in a statement on Monday, acknowledging the long road ahead. 'We are equally clear on the opportunity in front of us . . . it's what grounds the important work in front of us now.'"
Target is experiencing declining sales and customer traffic after boycotts, tariffs, and a surge of ICE operations in its Minneapolis hometown. Michael Fiddelke, a two-decade Target veteran and former COO and CFO, assumed the CEO role on Sunday. Fiddelke will focus on four priorities: bringing together design, style and value; making store visits and digital interaction easier and more welcoming; accelerating technology to remove friction and personalize experiences; and strengthening the team by building future-ready skills alongside the communities served. Target reported third-quarter revenue of $25.27 billion and adjusted EPS of $1.78, with shares rising over 3 percent.
Read at Fast Company
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