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Target's new CEO says retailer lost trust with shoppers and staff, Bloomberg News reports
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Target's new CEO says retailer lost trust with shoppers and staff, Bloomberg News reports
Mar 11, 2026 3:00 AM

Feb 4 (Reuters) - Target Corp's ( TGT ) 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 on 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 ( TGT ) was not immediately ​available to respond to a Reuters

request for comment.

Target ( TGT ) 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 ( TGT ) looks to address problems

ranging from a lengthy sales slump to an abrupt pullback from

its wide-ranging diversity ​initiatives ‍as U.S. President Donald

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 U.S. President Donald Trump.

Target's ( TGT ) 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 ( TGT ) has lost.

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