Major retailer’s CEO resigns amid falling sales, DEI pullback

[TCC]

Major retailer’s CEO resigns amid falling sales, DEI pullback

Target announced Wednesday that CEO Brian Cornell is stepping down after serving 11 years in the role, following a dec in sales in 2025. The major retailer’s […]

www.bizpacreview.com

Target announced Wednesday that CEO Brian Cornell is stepping down after serving 11 years in the role, following a decline in sales in 2025.

The major retailer’s board of directors tapped Target COO Michael Fiddelke as Cornell’s successor, effective Feb. 1, 2026, according to a press release. The announcement comes after Target has been facing a dip in shares and stagnant annual sales over the past four years, CNBC reported on July 15.

“Over the last several years, the Board has been executing a deliberate and thoughtful CEO succession process, including an extensive external search and assessment of many strong candidates,” Christine Leahy, lead independent director of Target’s board of directors, said in a statement. “It is clear that Michael is the right leader to return Target to growth, refocus and accelerate the company’s strategy, and reestablish Target’s position as a leader in the highly dynamic and fast-moving retail environment.”

 

[dwb]

When you ignore 99% of your customers to cater to the 1% your business is going to suffer. I'm surprised it took this long.

 

[Margery]

Target isn't really positioned well. They aren't as cheap as Walmart or the Dollar Stores. But that is the market they compete in. Middle class shoppers.

They made some really bone headed moves when they tried to open in Canada.

They didn't have their supply chain set up (basic mistake) so shelves stayed mostly empty for months and Canadians who were prepared to shop big at Target finally (it's the reason for a lot of cross border traffic) finally quit going, expecting disappointment.

They finally got their supply chain sorted, filled the stores, then declared they were now closing in Canada and all that merch that finally graced the shelves was selling at 60 to 80% off.

If they'd opened fewer stores, but stocked them - they could have built on that. People would come from far away just to enjoy Target. I know because that was what we were all hoping for.

I'm still enjoying the towels I got from them.

But I think their head office people are dumber than a box of rocks as to how to run a business. They are coasting on the reputation and any downturn in the economy or just the sector they are part of will do them harm as this shows.

There was a reason for falling sales, and it goes back to the Biden years and the post Covid recovery sales plan.

They shot themselves in the foot BADLY by doing Trans- or NON gender dressing rooms and bathrooms where people's daughters could be molested by sex offenders. In the reaction against that and the Rainbow branded merch, for the Alphabet brigade they lost their key demographic- middle class mothers shopping on a budget who wanted a bit better quality and were willing to pay a little more than Walmart.

But that sector wasn't happy about the trans molesters loose in the dressing rooms. Go woke and go broke! Its a real thing! Ask Budweiser.

And the middle class moms who are their demographic are budget conscious which means Walmart was and is eating their lunch.

 

[Andiamo]

Have only been there a couple times (out of desperation) since the transgender thing, and I bought very little. Before that I went there often.