MEGATHREAD Target shares tumble as retailer picks new CEO, says sales fell again

[jackandcat]

Our company is in trouble. https://www.cnbc.com/2025/08/20/target-tgt-q2-2025-earnings.html

 

[jackandcat]

Our company is in trouble. https://www.cnbc.com/2025/08/20/target-tgt-q2-2025-earnings.html

From today's Wall Street Journal -- article is behind a paywall -- https://www.wsj.com/business/retail/target-new-ceo-michael-fiddelke-969cb13f

Here are a few excerpts from the "most liked" reader comments to the WSJ article. User comments can be highly insightful.

Stores are messy and understocked, which is noted in the article but not featured. It's a huge issue, because neat, fully stocked stores are table stakes in retail. (Target feels like it's becoming Lampert-era Sears lately.) Stores are understaffed or poorly staffed and employee morale is nonexistent. 5% of the employees are happy to help, and 95% are annoyed you're there. Bad experience. Never enough checkout lanes open - and it's brutal. The last 2 Sundays, at mid-day in Chicago suburban locations, there have been exactly 2 checkout lanes open. It took me as long to checkout as it did to do our family's shopping for the week. Yikes.

Online pickup is an unmitigated disaster. You'll sit in your car for 20 minutes to get your order - even with no perishables in your purchase. It's often faster to shop in-store (until you need to checkout and there's no lanes open). Every other retailer has mastered this, without issue. Target's online pickup is unusable.

Notwithstanding that online pickup is unusable, at several locations, Target has stunningly reserved all parking **in front of the store** for online pickup. So, now in-store shoppers need to cross an empty football field of pavement to enter and exit the store... It's such a misunderstanding of the customer experience, you need to see it to believe it.

"Stylish items" wouldn't make my top 10 immediate concerns, fwiw.

When businesses weigh into complex, controversial political and social issues, they make what had been a commercial decision (I'm shopping for what I need or want) into a decision about supporting a political or cultural stance. That practice is going to alienate a portion of their market. Retracting that stance, after discovering that it alienates a portion of their market, alienates another portion of their market. No matter what the business does next, short of wholesale and well publicized leadership change, the business will struggle to get either alienated portion back.

Target is a horrible shopping experience. They have 50 cash registers, two of which might be open with long lines

Abandon political activism, focus on the reasons your company exists. When you pander to differing special interest groups you risk satisfying none and angering all.

Sell stylish items at decent prices in an edgy, uncluttered, and clean store, staffed by helpful folks.

I avoid going to Target. The mess is horrible, the checkout takes forever: only 1 [checkout register] is usually open, out of 7 or 8 [registers], and the self-checkout also takes forever. Why is that?

Look up an item online to see if they have it. Go to the store to buy it ( Target is only 1.5 miles from my house). Get there and it is 40% more to buy it in the store.

.stopped shopping at Target a while back...started when I noticed they actually gamed you and charged higher prices when you bought something in the store vs sitting in your car and ordering on line and having them bring it out to you in the parking lot...

 

[HRZone]

I've been gone for a few years now but I was always surprised Cornell was in charge for as long as he was. Most CEO's don't stay that long and while I think he did a lot to modernize the experience he was completely clueless to the experience of team members. He did a visit to our store back in 2018 and he looked disgusted to be with the common folk.

I also think politically they alienated both sides. First with the bathroom of your choosing and then eliminating DEI.

I know we struggled to staff my store when I was an ETL HR and I imagine it's only gotten worse.

 

[jackandcat]

Here's a very useful quote from the WSJ story itself:

He [CEO-designate Fiddelke] acknowledged that the shopper experience has degraded, with products too often out of stock and stores strained by the need to act both as e-commerce shipping hubs and as in-person shopping destinations.

In a Chicago-area test, Target is limiting which stores serve e-commerce orders, fulfilling those orders through stores that serve fewer in-person shoppers, he said. The company is also using new metrics to gauge out-of-stock levels better at peak shopping times on weekday afternoons and weekends, he said....“We’ve got some work to do to untangle that complexity because what we can’t have is any hiccups in the store experience,” he said. A faster embrace of new technology will also be important for Target’s turnaround, Fiddelke said.

Methinks this has been a huge problem that is seldom discussed. Drive-up orders sometimes arrive without advance notification, leading to a frantic scramble by a TM to pull the items from various shelves (and sometimes at a remote location for oversized merchandise like furniture, cribs and TVs), get everything scanned into the cart, and race everything out to the guest's vehicle amidst the guests who are entering and exiting the store -- or who want to ask questions -- and complete all of this within 3 minutes or receive a derogatory "Red" rating for not being fast enough. God help the drive-up TM whose guest included a Starbucks beverage in their pick-up order.......

Even when the Drive-Up Order guest sends the signal on the app that they are a few minutes away, allowing us to prep their order before their arrival, we are so understaffed at checkout lanes, self checkout and at the service desk that the designated Drive-Up TM ends up being pulled away for these tasks, hence missing time to prep orders when all of a sudden three Drive Up Order guests arrive at literally the same time plus there's a Pick-Up guest standing right in front of you.

Fulfillment TMs have to navigate through the store to pull items for Order Pickup or Drive Up Orders, sometimes unintentionally "getting in the way" of guests coming around the corner to find the correct flavor of Bush's Baked Beans at the shelf location. Compounding all of this is Target's increased willingness to fill our once-renowned open racetrack with clumsy in-walkway displays, sometimes with goods piled up on wooden pallets. Our stores are harder to navigate than they were pre-COVID because those "racetrack" walkways are now obstructed by merchandising displays and kiosks. This not only affects our in-store guests directly, creating a mental stress which could be motivating some guests to finish their shopping ASAP and get the shell outta there because of claustrophobic-like stress. That reduces the sales we would have made if the guest felt comfortable "lingering longer" in a less-cluttered store.

These things all impair the guest experience. With the frantic pressure to complete some in-store tasks in a minimal amount of time (or be slapped with a punitive Red rating), something has to give.

 

[Ringwraith917]

Sell stylish items at decent prices in an edgy, uncluttered, and clean store, staffed by helpful folks.

THIS!!

"racetrack" walkways are now obstructed by merchandising displays and kiosks

Oh I hate the in-aisle displays so much! It completely ruins the "wide bright aisles" asthetic.

 

[buliSBI]

saw the announcement that the ceo will leave in Feb 2026

 

[Stocker]

saw the announcement that the ceo will leave in Feb 2026

Yet the Minneapolis-based retailer pointed toward the future – and its focus on getting back to growth – by naming its next CEO. Chief Operating Officer Michael Fiddelke, who has also served as Target’s CFO, will step into the role on Feb. 1. He will succeed CEO Brian Cornell, 66, who will become executive chair of Target’s board of directors. Fiddelke is a 20-year Target veteran.

Translated this basically means nothing will change that much, at least for the better.

 

[Florida Dawg]

Been seeing on social media that longtime CEO Brian Cornell has resigned. Not surprised. Company was going to shit since Covid and I’ve seen it get worse myself and I worked for Target from April 2020-June 2022. It was getting worse since 2021 and the way they handled issues from seasonal merchandise to business decisions and how their stores should be ran for management has caused boycotts, lost of a lot of revenue and even a big loss of employees because they don’t get enough hours already and managers as well as corporate give out alot of unrealistic expectations. Seems like there’s a lot of panic in the company right now. If I was y’all, I’d quit and find another kind of business to work for or go to another retail company. Just thought I’d share but I been predicting things to go bad eventually and seems like Brian Cornell was pressured into resigning and has HQ in a very sour mood overall.

 

[Frontlanegirl]

Yet the Minneapolis-based retailer pointed toward the future – and its focus on getting back to growth – by naming its next CEO. Chief Operating Officer Michael Fiddelke, who has also served as Target’s CFO, will step into the role on Feb. 1. He will succeed CEO Brian Cornell, 66, who will become executive chair of Target’s board of directors. Fiddelke is a 20-year Target veteran.

Translated this basically means nothing will change that much, at least for the better.

Thought the same thing. So no new blood and same old…same old.

 

[BKop16]

He's leaving at the end of his contract and getting a cushy gig as Chairman of the Board as a retirement bonus. So not really resigning.

 

[Florida Dawg]

He's leaving at the end of his contract and getting a cushy gig as Chairman of the Board as a retirement bonus. So not really resigning.

He’s still resigning as CEO, I’m aware he’s staying and it’ll be a position that still closely works with the CEO but he isn’t gonna be CEO anymore and seemed like a lot was going on amongst the people at HQ.

 

[Uberdead]

No changes in direction... just more pain ,and suffering for those who remain. Can see all small format stores closing tbh.

 

[Zxy123456]

Been seeing on social media that longtime CEO Brian Cornell has resigned. Not surprised. Company was going to shit since Covid and I’ve seen it get worse myself and I worked for Target from April 2020-June 2022. It was getting worse since 2021 and the way they handled issues from seasonal merchandise to business decisions and how their stores should be ran for management has caused boycotts, lost of a lot of revenue and even a big loss of employees because they don’t get enough hours already and managers as well as corporate give out alot of unrealistic expectations. Seems like there’s a lot of panic in the company right now. If I was y’all, I’d quit and find another kind of business to work for or go to another retail company. Just thought I’d share but I been predicting things to go bad eventually and seems like Brian Cornell was pressured into resigning and has HQ in a very sour mood overall.

You worked during Covid which was awful. The worst years I’ve spent with Target were the COVID years. Things are definitely better now. My store has not lost many employees. The only ones leaving recently are the college kids. I’m not super worried. I say give the new guy a chance if things get worse than quit.

 

[Zxy123456]

No changes in direction... just more pain ,and suffering for those who remain. Can see all small format stores closing tbh.

My store is not that bad. No pain and suffering from me.

 

[HInbound]

Been seeing on social media that longtime CEO Brian Cornell has resigned. Not surprised. Company was going to shit since Covid and I’ve seen it get worse myself and I worked for Target from April 2020-June 2022. It was getting worse since 2021 and the way they handled issues from seasonal merchandise to business decisions and how their stores should be ran for management has caused boycotts, lost of a lot of revenue and even a big loss of employees because they don’t get enough hours already and managers as well as corporate give out alot of unrealistic expectations. Seems like there’s a lot of panic in the company right now. If I was y’all, I’d quit and find another kind of business to work for or go to another retail company. Just thought I’d share but I been predicting things to go bad eventually and seems like Brian Cornell was pressured into resigning and has HQ in a very sour mood overall.

No way in hell I'm quitting, my store is amazing.

Terrible advice in general to give to a group of people as you have no idea what their store culture is like. Just because yours was terrible several years ago, doesn't mean it's still the same, or the same for everyone on this forum.

 

[Florida Dawg]

No way in hell I'm quitting, my store is amazing.

Terrible advice in general to give to a group of people as you have no idea what their store culture is like. Just because yours was terrible several years ago, doesn't mean it's still the same, or the same for everyone on this forum.

Lol Dude there’s been complaining for years on here since I left and still now. The company is shit. Some of y’all might be lucky with good management and/or make solid sales but many stores aren’t. That’s why there’s been rumors of making changes at stores like cutting hours more and adding more responsibilities to certain positions. Target is still shit.

 

[HInbound]

Lol Dude there’s been complaining for years on here since I left and still now. The company is shit. Some of y’all might be lucky with good management and/or make solid sales but many stores aren’t. That’s why there’s been rumors of making changes at stores like cutting hours more and adding more responsibilities to certain positions. Target is still shit.

There will always be complaining, even from people that left a job, have zero clue about how things are currently, and still haunt its forums years past relying on social media where no one would ever embellish their experience, and posting false information. People love to be miserable. That's life.

The company as a whole isn't in a great place, change was needed. We got it. Is it the right choice? We'll have to wait and see.

It's still terrible advice to tell people to quit.

 

[spytfyre7]

I wouldn't call it a resignation. Cornell got a contract extension to serve as CEO for another 3 years back in 2022, and that's exactly what he's doing. He was always planning to retire around this time. His preferred mentee, Michael Fiddelke, is taking over for him next year + Cornell will still be executive chairman, so he'll still be plugged into Target with Fiddelke as his Doberman. Resignation would mean he's cutting ties and leaving the company, and that's not what's happening.

 

[Florida Dawg]

There will always be complaining, even from people that left a job, have zero clue about how things are currently, and still haunt its forums years past relying on social media where no one would ever embellish their experience, and posting false information. People love to be miserable. That's life.

The company as a whole isn't in a great place, change was needed. We got it. Is it the right choice? We'll have to wait and see.

It's still terrible advice to tell people to quit.

First of all, If you’re implying that I’m miserable because of what I’ve said and especially what I’ve gone through at my store and this company and thinking I’m making stuff up, You’re mistaken and sounds like you’re projecting about yourself. Second of all, I keep in touch with quite a few people who are or aren’t working at Target anymore whether it’s the same store I worked at with or at different stores later on and currently still work for them. The company is shit and it’s the bottom line, It got much worse since Covid and all the bs going on in our country during these past few years. Most people unless you’re a cultist suck up who gets away with the bs or is lucky to be at a store where there isn’t many problems, Actually know there’s better companies to work at and better jobs they could do that would fit them if lucky. We need retail stores however it’s not meant to be a career unless you suck your way up to the top for management or some higher up position. I worked hard to be one of the best cart Attendants and front of store people and it wouldn’t get me anywhere and I was burned out in 6 months cus I wasn’t a suck up or did all the bs so I stopped caring and did what I could to not get harassed by management until I found a different company to work for. I don’t miss it, Won’t work for them again but I don’t mind talking to anyone that isn’t a liar on here or give advice to those who want to hear it.

 

[Florida Dawg]

I wouldn't call it a resignation. Cornell got a contract extension to serve as CEO for another 3 years back in 2022, and that's exactly what he's doing. He was always planning to retire around this time. His preferred mentee, Michael Fiddelke, is taking over for him next year + Cornell will still be executive chairman, so he'll still be plugged into Target with Fiddelke as his Doberman. Resignation would mean he's cutting ties and leaving the company, and that's not what's happening.

It’s resigning even though it’s from the position technically and going to a different position but yes I’m aware he’s staying with the company. Just from the news I’m seeing, I don’t know why anyone would wanna stick around especially those who keep saying on here that “Target isn’t what it used to be.” Well then find a new company to work for and you’ll have to be willing to start over and be in a better enviorment.