Target’s Plan to Win You Back
CEO Michael Fiddelke plans a 25% capital spending increase to $5 billion, aiming to boost operations, technology, and merchandising after several quarters of sales decline.
- CEO Michael Fiddelke led an investor meeting at Target headquarters, Minneapolis, on March 3, 2026, presenting Q4 earnings and the company’s 'next chapter of growth'.
- Declining customer traffic and weaker spending have eroded sales, as customer visits fell for three consecutive quarters and annual sales remained flat for four years amid backlash from DEI rollbacks and strategy mistakes costing market share to competitors including Walmart, Amazon, Costco and T.J. Maxx.
- Target reported adjusted EPS of $2.44, beating estimates of $2.16, while revenue declined by $30.48 billion and comparable sales fell 2.5%.
- Fiddelke vowed to return Target to annual sales growth, pitching a clearer strategy as shares rose 5.5% premarket after the stock Monday close of $113.17 valued the market capitalization at $51.24 billion.
- Target will boost $51.24 billion capital spending 25% to support store, digital, and technology investments, and outline its Ulta partnership strategy at investor day.
24 Articles
24 Articles
Target shifts away from being an 'everything store' in new strategy focused on 'busy families'
Target CEO Michael Fiddelke and other executives outlined the retailer's turnaround strategy at its Minneapolis headquarters on Tuesday.Dominick ReuterTarget's executives outlined its turnaround plan at its Minneapolis headquarters on Tuesday.The retailer is trying to win customers back by revamping categories like home and baby.It doesn't want to be known as an "everything store," CEO Michael Fiddelke.Target is betting on "busy families" to dri…
Local 3 News
noticiasya.comTarget's new CEO wants to restore the company's "Tarzhay" reputation after a particularly difficult few years.
Target’s new CEO signals turnaround with upbeat outlook
March 3 (Reuters) – Target’s new CEO Michael Fiddelke promised a return to annual sales growth and issued an upbeat profit outlook, signalling a turnaround push at the embattled retailer. Shares of the Minneapolis-based retailer were up 5.5% in trading before the bell. They have fallen for four straight years, lagging rivals such as Walmart. Under Fiddelke, Target is focusing on revamped merchandising, sharper pricing and store‑experience upgr…
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