Target Faces 'Identity Crisis,' As New CEO Takes The Helm

Target faces pressure to overhaul its strategy as new CEO Michael Fiddelke takes charge amid weak sales, e-commerce challenges, and analyst skepticism, according to Reuters. The retailer, once known for cheap-chic merchandising, has struggled to excite shoppers and lost ground to Walmart, Amazon, and Costco. Fiddelke outlined goals to restore Target’s brand identity, improve efficiency, and leverage technology, but analysts criticized the lack of clarity and called for outside leadership to reset the strategy. Analyst Jamie Meyers said Target is facing an identity crisis, lacking a clear position in the retail market. Meyers argued the company needs an external CEO to bring a fresh perspective and reset its strategy. Target’s stock has dropped 23% over five years, compared with sharp gains for rivals.