Michael Fiddelke is looking to move fast as he takes over as chief executive officer of Target Corp. and build on the retailer’s style-heavy roots as it reinvents for the future.
In a letter to consumers, employees and partners on Monday morning, Fiddelke made clear how important the mission is to him, especially after more than two decades at the company.
“I’ve grown here, learned here and worked alongside teams and partners who care deeply about our guests,” he said. “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,” he said. “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.”
Fiddelke officially moved into the corner office on Sunday as his predecessor, Brian Cornell, became executive chairman, but he’s already telegraphed his direction.
The new CEO said Target was focusing on four priorities to start:
- Leading with merchandising authority.
- Elevating the guest experience.
- Accelerating technology to remove friction
- And strengthening the company’s team and communities by investing in employees and growing alongside the communities it serves.
To get there, Fiddelke said in the letter that he plans to “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.”
Fiddelke has described accelerating Target’s growth as “priority one through 10.”
Among the early moves that bear the new CEO’s fingerprints was the redesign of the Target store in New York’s SoHo shopping district, which is now part concept store, part testing ground where fashion and beauty are put front and center with fresh presentations.
Target has also expanded its wellness assortment by 30 percent, taken steps to bolster its use of AI and moved to reinvigorate its business, which has had trouble keeping traction, especially in the discretionary categories.
Fiddelke is going to have to keep moving as he’s not the only one stepping up in mass market retail.
John Furner’s first day as CEO of Walmart Inc. was also on Sunday.
But while Walmart and Target are the traditional big box rivals, it’s less of a grudge match today than it was as the much larger Walmart has spent much of the last decade retooling to match its consumer muscle against Amazon’s.
Fiddelke also faces a pressure that Furner does not related to the ongoing protests in Target’s home city of Minneapolis related to the killings by U.S. Customs and Immigration Enforcement agents of Renee Good and Alex Pretti. Consumers have demonstrated at dozens of Target stores in Minneapolis and around the U.S. calling on the retailer to speak out against ICE and the killings. Fiddelke last week joined other Minneapolis-based CEOs and executives from 60 companies that issued a letter calling for a “de-escalation” in the city and cooperation between federal, state and city authorities over ICE’s controversial presence in Minneapolis.
