Target is experiencing prolonged sales declines and falling stock after overstocking, losing touch with customers, and failing to compete effectively with Amazon. Consumer boycotts organized by Black shoppers and backlash over Pride merchandise compounded financial and reputational harm. Leadership changed as CEO Brian Cornell was replaced by Michael Fiddelke, a longtime internal executive, prompting investor concern that internal continuity may not produce needed strategic overhaul. Employee confidence has eroded. External threats such as tariffs on imports increase retail pressures. Shares dropped sharply following the leadership change, leaving Target with operational, brand, and political challenges to address.
And there are probably folks on the far right who think even Target's toned-down, overwhelmingly beige Pride merch this year was still too loud. But its stock is in the gutter, and sales have been falling for two years because of good ol' business fundamentals. It overstocked. It lost the pulse of its customers. It went up against Amazon Prime with... actually, does anyone know what Target's Amazon Prime competitor is called?
Taking his place to steer the brand out of its malaise is ... Cornell's right-hand man. It's not to say the new guy, Michael Fiddelke, is unqualified. He's been at Target since he started as an intern more than 20 years ago, after all. But Wall Street is clearly concerned that Target's leadership is underestimating the severity of the need for a significant change- just as President Trump's tariffs on imported goods threaten the entire retail industry.
The brand we petite bourgeoisie once playfully referred to as Tar- zhay has lost its spark. The company reported a decline in sales for a third straight quarter, part of a broader trend of falling or flat sales for two years. Employees have lost confidence in the company's direction. And 2025 has been a particularly rough financially, as Black shoppers organized a boycott over Target's decision to cave to right-wing pressure on diverse hiring goals. Shares fell 10% in early trading.
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