{"id":46410,"date":"2025-08-21T02:33:00","date_gmt":"2025-08-21T07:33:00","guid":{"rendered":"https:\/\/ustower.net\/?p=46410"},"modified":"2025-08-21T04:45:47","modified_gmt":"2025-08-21T09:45:47","slug":"target-ceo-to-step-down-as-sales-remain-sluggish","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=46410","title":{"rendered":"Target CEO to step down as sales remain sluggish"},"content":{"rendered":"\n

Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant<\/a>, the company said on Wednesday.<\/p>\n\n\n\n

In recent years, Target has suffered sluggish sales as the company weathered consumer boycotts<\/a> over its Pride collection and a rollback of its diversity, equity and inclusion policies.<\/p>\n\n\n\n

Michael Fiddelke, who currently serves as chief operating officer, will assume the role of CEO on Feb. 1. Cornell will become executive chair of the company\u2019s board of directors.<\/a><\/p>\n\n\n\n

“With the board’s unanimous decision to appoint Michael Fiddelke as Target’s next CEO, I want to express my full confidence in his leadership and focus on driving improved results and sustainable growth,\u201d Cornell said in a statement<\/a> on Wednesday.<\/p>\n\n\n\n

\u201cMichael brings a deep understanding of our business and a genuine commitment to accelerating our progress,” Cornell added.<\/p>\n\n\n\n

The announcement came as the company reported slow sales over a three-month period ending in August. Sales dropped slightly compared to the same period a year earlier, though revenue picked up from the previous quarter. Net income, meanwhile, plunged 21%, the company said.<\/p>\n\n\n\n

In a statement, Cornell acknowledged a \u201cchallenging retail environment,\u201d but he touted \u201cencouraging signs of recovery, including improved traffic and sales trends.\u201d<\/p>\n\n\n\n

\u201cAs we enter the critical back-to-school and holiday seasons, our team remains focused on consistent execution and building momentum as we look ahead to the new year,” Cornell said.<\/p>\n\n\n\n

Shares of Target fell nearly 8% in early trading on Wednesday.<\/a><\/p>\n\n\n\n

The retail giant, which operates nearly 2,000 stores, has struggled to grow sales and outperform competitors in the aftermath of a pandemic-era shopping boom.<\/p>\n\n\n\n

Speaking on an earnings call on Wednesday, Chief Commercial Officer Rick Gomez said the company is negotiating prices with suppliers and other partners in an effort to stave off tariff-related price increases.<\/p>\n\n\n\n

\u201cWhat we’ve said, and continues to be our position, is that we’ll take price as a last resort, but our commitment is to offer everyday good value and to have competitive pricing as we think about going forward,\u201d Gomez said.<\/p>\n\n\n\n

abcnews<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant, the company said on Wednesday. In recent years, Target has suffered sluggish sales as the company weathered consumer boycotts over its Pride collection and a rollback of its diversity, equity and inclusion policies. Michael […]<\/p>\n","protected":false},"author":7,"featured_media":46411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[2307,8927,7383],"class_list":["post-46410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ceo","tag-step","tag-target"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/46410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46410"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/46410\/revisions"}],"predecessor-version":[{"id":46412,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/46410\/revisions\/46412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/46411"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}