Target's New CEO Says Technology Is a Top Priority

Core Insights - Target's new CEO, Michael Fiddelke, aims to enhance merchandise quality, in-store experiences, and technology to improve overall customer satisfaction [1][4] - Fiddelke took over as CEO on February 1, following a year where Target's shares fell by 28%, contrasting with a 16% rise in the S&P 500 Index [2] - The company plans to invest in creating a distinctive assortment of merchandise, improving online product visibility, and catering to busy families [3] Strategic Priorities - The four main priorities outlined by the CEO include: 1. Merchandising that combines design, style, and value uniquely [4] 2. Enhancing guest experience for both in-store visits and digital interactions [4] 3. Leveraging technology to streamline operations and improve customer experiences [4] 4. Investing in team members to develop future-ready skills [4] Leadership Transition - Fiddelke has been with Target for 20 years and previously served as the Chief Operating Officer [5] - The board's lead independent director expressed confidence in Fiddelke's ability to drive growth and refocus the company's strategy [6] - During an earnings call, Fiddelke emphasized the importance of investing in digital operations and utilizing AI to enhance team efficiency [7]