Core Insights - Target is experiencing a renewed urgency to improve its financial performance after several challenging years marked by declining sales and market share losses [1][2] - The company has implemented a multi-year strategy aimed at achieving over $15 billion in sales by 2030, focusing on product innovation and enhancing customer experiences [3][4] Financial Performance - Target's net sales declined by 1.5% year over year in Q3 of fiscal 2025, with comparable sales falling by 2.7% due to lower traffic and decreased average transaction size [12] - Despite overall declines, categories such as Beauty, Food & Beverage, and Hardlines showed growth, prompting Target to focus its expansion efforts in these areas [12] Strategic Initiatives - Target is expanding its wellness assortment by introducing 30% more new and exclusive items, with a significant portion priced under $10, to align with consumer trends [6][7] - The company is also revamping its in-store and digital shopping experiences to enhance convenience and engagement for customers [9][11] Leadership Changes - A major leadership transition is underway, with CEO Brian Cornell moving to the role of executive chairman and COO Michael Fiddelke becoming the new CEO in February 2026 [4] Market Context - Target's challenges are compounded by the rise of e-commerce and ongoing pressures in brick-and-mortar retail, with digital comparable sales increasing by 2.4% year over year while store-originated sales fell by 3.8% [13] - Other retailers are also pursuing similar strategies of assortment expansion and category refreshes to drive traffic and restore growth [19]