Target's CEO, Michael Fiddelke, has announced a new strategy to win back shoppers and boost revenue by reducing prices on more than 3,000 products in an effort to counterbalance intense competition from Walmart, Aldi, and Amazon. The move is expected to raise investor expectations as Fidelke aims to prove his costlier capital outlay will yield higher returns and reverse three years of declines in sales. The price cuts, which have not been successful in the past, were only partially successful due to the overreliance on discretionary spending and increased competition. The company's new strategy includes $5 billion in capital expenditures, a third more than last year, and $1 billion in groceries. The CEO has also promised trendier apparel on store shelves, speedier deliveries, and a focus on artificial intelligence across its stores.