TARGET IS COUNTING ON A COMPANY VETERAN TO REVIVE ITS MAGIC AS IT STRUGGLES TO COMPETE WITH RIVALS LIKE WALMART.

TARGET SAYS CHIEF OPERATING OFFICER AND 20-YEAR COMPANY VETERAN MICHAEL FIDDELKE WILL BECOME CEO FEBRUARY 1ST.

HE SUCCEEDS BRIAN CORNELL. WHO HELPED ENERGIZE THE COMPANY WHEN HE TOOK THE HELM IN 2014.

HOWEVER HE STRUGGLED TO TURN AROUND WEAK SALES IN A MORE COMPETITIVE RETAIL LANDSCAPE SINCE THE COVID PANDEMIC.

TARGET HAS BEEN THE FOCUS OF CONSUMER BOYCOTTS SINCE LATE JANUARY, WHEN IT SCALED BACK ON CORPORATE DIVERSITY, EQUITY AND INCLUSION INITIATIVES.

ALTHOUGH WALMART RETREATED FROM ITS DIVERSITY INITIATIVES FIRST, ORGANIZERS HAVE SAID THEY VIEWED TARGET’S ACTION AS A GREATER BETRAYAL BECAUSE THE COMPANY PROMOTED ITSELF OUT AS A CHAMPION OF INCLUSION.

TARGET’S SALES HAVE LANGUISHED AS CUSTOMERS TURN TO DEPARTMENT STORE CHAINS LIKE TJ MAXX IN SEARCH OF LOWER PRICES.