The CEO of Target, Brian Cornell, is stepping down as the retailer faces challenges with weak sales and a growing customer boycott. He will be succeeded by Target’s chief operating officer, Michael Fiddelke, next year.
Cornell took charge in 2014 and revitalized the company, but recent years have been tough. Since the COVID-19 pandemic, Target has struggled to regain its footing in a competitive market. Sales fell sharply in early 2025, and forecasts indicate further declines for the year. Rising consumer worries about the economy and tariffs are impacting shopping habits. Additionally, customer boycotts have steepened the sales drop.
Target made headlines earlier this year after scaling back its diversity, equity, and inclusion (DEI) initiatives, facing criticism from various groups. In February, a poll revealed that many Americans were changing their shopping preferences due to corporate policy shifts in response to the Trump administration. Reports indicate that some Black Americans are boycotting Target and other retailers, fueled by calls for action from community leaders. In fact, a pledge to boycott Target gathered over 250,000 signatures earlier this year.
In 2024, Target also faced backlash for reducing its LGBTQ+-themed merchandise during Pride Month. This move was met with criticism from many who felt it compromised the company’s commitment to inclusivity.
Recent financial reports reveal a challenging situation for Target. In the second quarter of this year, the company saw a 21% drop in net income and a 1.9% decline in comparable sales, which includes both physical and online channels. This marks a troubling trend, as Target has reported either flat or declining comparable sales in eight of the last ten quarters.
Experts suggest that for Target to recover, it will need to address concerns related to both diversity and customer satisfaction. As shoppers increasingly value transparency and corporate responsibility, companies are urged to align their business practices with the evolving expectations of their customer base.
For more detailed insights on Target’s financial challenges and their impact on the retail industry, you can visit this report.
