| |
Target is in trouble. And while itfs easy to get lost in the companyfs recent (poor) handling of American culture war narratives that cast it as too gwokeh or too willing to cave to online fascists, the root of Targetfs problems runs deep.
tripscan rzy
Donft get me wrong@the massive consumer boycotts from Black organizers have done damage. And there are probably folks on the far right who think even Targetfs toned-down, overwhelmingly beige Pride merch this year was still too loud.
https://tripscan39.org
y{p~ pz
But its stock is in the gutter and sales have been falling for two years because of good olf business fundamentals. It overstocked. It lost the pulse of its customers. It went up against Amazon Prime withc actually, does anyone know what Targetfs Amazon Prime competitor is called?
The brand we petite bourgeoisie once playfully referred to as Tar-zhay has lost its spark. The company reported a decline in sales for a third-straight quarter, part of a broader trend of falling or flat sales for two years. Employees have lost confidence in the companyfs direction. And 2025 has been a particularly rough financially, as Black shoppers organized a boycott over Targetfs decision to cave to right-wing pressure on diverse hiring goals.
Shares were down 10% Wednesday.
Itfs not to say the new guy, Michael Fiddelke, is unqualified. Hefs been at Target since he started as an intern more than 20 years ago, after all. But Wall Street is clearly concerned that Targetfs leadership is underestimating the severity of the need for a significant change just as President Donald Trumpfs tariffs on imported goods threaten the entire retail industry.
Appointing a company lifer gdoes not necessarily remedy the problems of entrenched groupthink and the inward-looking mindset that have plagued Target for years,h Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Wednesday.
Missing the mark
In its 2010s heyday, Target became a go-to for consumers who liked a bargain but didnft necessarily like bargain-hunting. The shelves felt well-curated. Youfd go to Target because it had one thing you needed and 12 things you didnft know you needed. It was stocked with Millennial cringe long before Gen Z gave us the term Millennial cringe.
Targetfs sales held strong through the pandemic as remote workers set up home offices and stocked up on essentials. Months of lockdown also benefited the store as people began refreshing their spaces because they didnft really have much else to do and they were staring at the same walls all the time.
|
|
![[NEW]](./image/new_icon.gif){kind=icon}
apuzudec
- 25/9/3() 20:35 -
