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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAnother Trump casualty. Target CEO is stepping down.
Last paragraph suggests that they still don't see the problem.
Target picks an insider to lead the struggling company when CEO Brian Cornell steps down next year
NEW YORK (AP) Target is counting on a company veteran to revive its magic as it struggles to compete with rivals like Walmart.
The Minneapolis-based retailer said Wednesday that Chief Operating Officer Michael Fiddelke, who has been with Target for 20 years, will become CEO Feb. 1.
He succeeds Brian Cornell, who helped reenergize the company when he took the helm in 2014 but has struggled to turn around weak sales in a more competitive retail landscape since the COVID pandemic.
snip
He said hes stepping into the role with three urgent priorities: reclaiming the companys merchandising authority; improving the shopping experience by making sure shelves are consistently stocked and stores are clean; and investing in technology at the companys stores and in its supply network.
https://apnews.com/article/target-ceo-brian-cornell-succession-dei-1d87a977b4869d4bace9ff85e6da427d
newdeal2
(4,701 posts)Expensive lesson to learn. Well, I'm not sure theyve learned anything so far actually.
EYESORE 9001
(29,424 posts)but Im sure gonna try to discourage others from supporting capitulation.
Bernardo de La Paz
(60,320 posts)EYESORE 9001
(29,424 posts)and other issues going back further.
Bernardo de La Paz
(60,320 posts)EYESORE 9001
(29,424 posts)My contempt for Target transcends merely political concerns.
Bernardo de La Paz
(60,320 posts)Three years ago, Target extended Cornell's contract by three years and to accommodate that it dropped the age 65 retirement policy they had. That time is up, so this is definitely not unexpected when there are business and economic issues (under-performance) that have nothing to do with tRump.
Cornell becomes executive chairman of the board, so it is not as if he is being ditched.
Planned retirement, moving up not out, replaced by someone who worked for him. Nope, not "another Trump casualty".
Baitball Blogger
(51,639 posts)didn't have an effect at all?
Here are the facts: They lost consumers during Covid. They needed to, not just get them back, but also attract more. But instead of changing their merchandise to bring in more ethnic customers, they intentionally pushed them away with the anti-DEI move that even angered their stockholders.
And, it's not just ethnic people who are not shopping there, but white people who have a conscience.
It's the lack of growth with customers that is going to end them.
If nothing else, Target shows what a department store of this size can expect if they only try to sell merchandise to white customers.
Bernardo de La Paz
(60,320 posts)Baitball Blogger
(51,639 posts)I disagree with your position and I explained why. Target is turning a blind eye to the real problem. They're losing customers, and they'll lose more now that they're not showing any interest in offering merchandise that will attract them.
You tried to negate that assumption by going off on a tangent. Saying no, it's not this, but that.
So, you ignored the real problem, in my estimation. Customers. The only reason why Walmart is doing better is because they offer the cheapest products for the lowest prices. If Target tries to follow that example, they'll lose their bread and butter base, in my opinion. The way I see it, their base is now the suburban mom. If they want to raise prices, they need to change their merchandise.
Bernardo de La Paz
(60,320 posts)Bengus81
(9,759 posts)someone/some group were messing around trying to get it and did NOTHING to stop it. I think they ended up having 20+ Million CC data stolen by hackers.