Michael Fiddelke, who became Target's CEO last month after more than 20 years at the company, has outlined a turnaround plan to boost sales and restore the retailer's image as a fun, affordable destination for stylish clothing, housewares, beauty products and packaged food.
In an interview with The Associated Press, Fiddelke acknowledged the challenge of proving himself to skeptics who wanted an outsider to lead the company. He said his long tenure gives him a clear view of when Target is performing well and when it is not, and he plans to combine that experience with candour about needed changes.
Fiddelke is pushing merchandise buyers to travel more for inspiration, noting that creativity suffered during the pandemic when travel was limited. He cited a European Christmas market trip that inspired the Alpine Chalet theme in stores last quarter. He also said he has been visiting Target's corporate archives to learn from history without falling into nostalgia.
Target reported another quarter of declining comparable sales on Tuesday. The company faces pressure over its decision to pull back on DEI programmes and its refusal to take a public stand against immigration crackdowns in Minneapolis. Fiddelke said Target has deep roots in its communities and gives 5% of operating profits back, but acknowledged it has trust to win back with guests.
