Target’s New CEO Sets Fresh Growth Plan

The new boss of Target, Michael Fiddelke, announced a bold strategy to revive the retailer’s fortunes. He promised a fresh focus on product quality and store layout, aiming to draw shoppers back into physical locations. To support this shift, the company will lift its capital investment by a quarter, reaching $5 billion this year for technology upgrades and operational improvements. Fiddelke stepped into the CEO role last month after climbing the ranks from an intern in 2003. He described Target’s current phase as the “next chapter of growth, ” hinting that more details will surface at an upcoming investor presentation.The chain has hit rough patches. Intense rivalry from Walmart and Amazon, along with missteps in strategy—such as scaling back Pride displays and reducing diversity initiatives—has hurt its image among many customers. Sales have stalled, and the stock price has slipped almost 30 % over three years. Even holiday sales faltered, with a 2. 5 % drop in stores that opened at least one year ago during the latest quarter. Yet there are signs of improvement: February sales saw a lift, and the company projects overall revenue to rise about 2 % this year. Target is hopeful that these changes will turn the tide and restore confidence among shoppers and investors alike.