Target Trims Corporate Strategy Team
Target is reorganizing its strategy team, a group that helps the company set priorities, Bloomberg reported Wednesday (July 8).
The move included the elimination of some roles on the team, the report said, citing an internal memo and saying the document’s contents were confirmed by Target.
The company aims to “better align resources, reduce duplication and strengthen talent deployment,” the memo said, per the report.
Target CEO Michael Fiddelke, who assumed that role on Feb. 1, said during a Feb. 4 company town hall event that he aims to improve the retailer’s merchandise, in-store experiences and technology.
The company had announced about six months earlier, in August, that Fiddelke would become its new CEO. Fiddelke had been with Target for 20 years and was most recently the company’s chief operating officer.
Christine Leahy, lead independent director of Target’s board, said in an August press release that Fiddelke “is the right leader to return Target to growth, refocus and accelerate the company’s strategy, and reestablish Target’s position as a leader in the highly dynamic and fast-moving retail environment.”
PYMNTS reported in March that Target’s fourth quarter marked an inflection point, as the firm made gains in eCommerce, same-day delivery expansion and stepped-up artificial intelligence personalization.
Fiddelke said in an earnings release that the company seeks to deliver “an elevated and differentiated shopping experience, advancing our use of technology.”
In March, Target said it plans to add 30 new stores this year and 300 by 2035 to support its growth priorities. The retailer also plans to remodel more than 130 stores this year.
The store openings and remodels are supported by Target’s $5 billion capital investment plan for 2026.
Later in March, Target said it was lowering prices on 3,000 items in another move to support the company’s long-term, sustainable growth.
The company said the price reductions would generally be between 5% and 20% and would span select items across apparel, home, shoes and “everyday essentials” such as baby items, household essentials and pantry staples.
When Target released first quarter earnings in May, it said its 6.7% uptick in net sales reversed several quarters of declines.
