Target Corp.’s new chief executive officer, Michael Fiddelke, said the big-box retailer has lost trust with shoppers and employees and pledged to rebuild that connection, Bloomberg News reported Wednesday.
“We weren’t clear enough about who we are as a company,” Fiddelke told staff on his first town hall, according to a recording viewed by Bloomberg News. “When we aren’t clear enough, that confuses people. We didn’t do enough to correct that confusion in the moment.”
Target was not immediately available to respond to a Reuters request for comment.
Target named insider Fiddelke as its new CEO, starting in February, replacing Brian Cornell, who had been expected to retire. Fiddelke, in October last year, had announced the company was cutting around 1,800 corporate roles in its first major layoff in around a decade.
Fiddelke is taking over as Target looks to address problems ranging from a lengthy sales slump to an abrupt pullback from its wide-ranging diversity initiatives as President Trump took office last year.
The retailer also faced boycotts and lawsuits related to its diversity, equity, and inclusion practices and remained reliant on sourcing from countries affected by broad-based tariffs imposed by Trump.
Target’s unclear position has hurt the company’s standing with consumers – especially black shoppers – as well as staffers, Fiddelke said, according to the report. Last year was difficult, he said, adding that work is underway to reconnect with the customers Target has lost.
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