Target’s new CEO, Michael Fiddelke, today sent his first memo to staff, outlining four priorities for the Minneapolis-based retailer, ranging from elevating the guest experience to investing in the team’s growth.
Fiddelke wrote, “Stepping into this role is both humbling and deeply personal. And while we have real work to do, we are clear on who we are, our unique place in retail and in the hearts of our guests. We are equally clear on the opportunity in front of us. Our guests want great design, real value and experiences that delight. That’s where Target has always been at its best, and it’s what grounds the important work in front of us now.”
“In the weeks ahead, my focus is simple: listen closely, move with clarity and urgency, and lead with purpose. We will make clear choices, invest where it matters most and bring this strategy to life through our stores, our digital experiences, and — most importantly — our people.”
As the company moves forward, Fiddelke said its strategy is focused on four priorities:
- Leading with merchandising authority by curating with conviction — bringing together design, style and value in a way only Target can.
- Elevating the guest experience by making every store visit and digital interaction easier, more inspiring and more welcoming.
- Accelerating technology to remove friction, enable our teams and create more personalized, joyful experiences for guests.
- Strengthening our team and communities by investing in our people, building future-ready skills and growing alongside the communities we serve.
Fiddelke’s turnaround strategy will center on introducing new brands and revitalizing stores. Target is also increasing capital spending by 25% to $5 billion to improve store operations, merchandise, and technology.
Fiddelke officially assumed the role of Target’s CEO on Sunday.
Target’s stock rose nearly 3% in premarket trading following Fiddelke’s statement.
By CEO NA Editorial Staff
