Target’s incoming CEO, Michael Fiddelke, is facing a big problem before his first day on the job.
The longtime Target exec will officially take over the reins from Brian Cornell in February. The retailer has reported 11 straight quarters of flat or falling sales and has seen boycotts from both sides of the political spectrum over the past two years. Target has also struggled to stock products and maintain strong customer service in stores.
Over the past year, Target’s stock has fallen 62% while Walmart’s stock has grown 20% and Amazon’s stock is up 53%.
Analysts and retail experts told ADWEEK that the problems aren’t insurmountable—Target still has great locations and strong brand equity—but the issues go beyond the cultural flashpoints that have dominated news cycles. Marketing is