The next Target CEO knows the retailer needs to do better. Here's his 3-part plan to get it back on track.
Briefly

Michael Fiddelke will assume Target's CEO role in February after serving as chief operating officer. Target has recorded declining comparable sales for six of nine quarters and store foot traffic fell more than 3% year over year in the second quarter. Fiddelke led a new enterprise acceleration office last quarter and reported modest sequential improvement across key metrics while saying the company is not realizing its full potential. Fiddelke committed to build momentum and return to profitable growth. He proposed a three-part strategy anchored in a style and design North Star, leveraging Target's $31 billion private-label portfolio and national-brand partnerships to reassert merchandising authority.
"I know we're not realizing our full potential right now," Fiddelke said during Target's quarterly earnings call Wednesday, "so I'm stepping into the role with a clear and urgent commitment to build new momentum in the business and get back to profitable growth."
"We need to go beyond the occasional design partnership, or ensure we're bringing this authority across each category in our business throughout the year," he said.
Read at Business Insider
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