Target’s new CEO unveils his turnaround plan
Published on March 3, 2026.
Target's CEO, Michael Fiddelke, has unveiled his turnaround plan to reinvigorate the company's reputation after years of struggles. He plans to increase capital spending by 25% to $5 billion this year to bolster operations, technology, and other areas of the business. The company has faced competition from Walmart and Amazon, and made strategy mistakes including dropping Pride displays and introducing DEI programs. Despite a 2.5% drop in sales at stores open for the holiday season, Target expects total sales to grow around 2% this year.
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