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Target’s brand new CEO faces a sales slump and turmoil in Minneapolis
Michael Fiddelke aims to accelerate growth with $5 billion investments in stores, technology, and employees amid protests linked to ICE operations in Target's Minneapolis base.
- On Sunday, Michael Fiddelke officially assumed the CEO role at Target as the Minneapolis-based retailer faces 12 consecutive quarters of weak or declining sales.
- Federal immigration operations in Minneapolis have prompted protests after Alex Pretti, a 37-year-old Minneapolis resident and ICU nurse, was fatally shot on Jan. 24.
- Target is boosting capital spending to $5 billion, focusing on store and merchandise upgrades, and testing concepts like the SoHo store in New York City, the company said.
- On Monday, protesters gathered outside Target's headquarters as Fiddelke joined more than 60 Minneapolis-based CEOs in calling for de-escalation, while he refrained from commenting on ICE activities.
- Competition is intensifying from Amazon, Walmart and Costco as Target has expanded its wellness assortment by 30% and will outline more details at its March 2026 Financial Community Meeting in Minneapolis.
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Crippled Target Promotes Someone Who Helped Break It
No large retailer in America has posted worse results over the past five years than Target Corp. (NYSE: TGT). And the board has shown another example of the poor judgment that hurt it. Michael Fiddelke, Target’s chief operating officer, was promoted to chief executive, after working for his boss Brian Cornell. 24/7 Wall St. Key Points The Target Corp. (NYSE: TGT) board of directors showed poor judgment in its choice for new chief executive. T…
·New York, United States
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Coverage Details
Total News Sources15
Leaning Left3Leaning Right0Center9Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 25%
C 75%
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