Starting with the summer trainee while he is still at the College of Business Administration and the high ranks of the CEO, Michael Vidlie has made more than two decades in the work of large retail stores in the United States.
Last month, he was exploited to succeed Brian Cornell, who retires 11 years after the company’s leadership.
Fiddelke’s celebration has not lastd. After the CEO, which coincided with news that sales in the second quarter decreased for the third quarter in a row, investors sent the company’s shares by 6.3 %. Analysts were not equal, on the pretext that the promotion of Fiddelke indicates a commitment to strategies based on bold and strategic reformists.
Not so long ago, Target was seen as an increasing threat to greater peers like Walmart and Amazon. Today, it is struggling with stagnant sales, low market share, and consumer dissatisfaction. Customers complained about chaotic and understandable stores, high prices, and products that no longer pick up elegant gravity, albeit budget, which was on a distinctive feature of retail stores.
During the Covid-19s, TARGET enjoyed increasing sales led by strong demand for home commodities, office supplies, and daily necessities where Americans spent more time inside. By 2022, momentum faded. The excess stocks collided with inflation, prompting shoppers to retract estimated purchases.
Social differences have a complex target position. A violent reaction during the month of pride and the month of goods and the retreat of the diversity of companies, and the stock and inclusive programs have strengthened conservative consumers and progressive alike. The shares of the company decreased about 60 % of its peak 2021.
Fiddelke, 49, grew up in a small agricultural town in Iowa, where his family cultivated and managed local companies. He obtained an engineering certificate at Iowa University, worked in Deloitte, and completed the degree of work at the University of North Western.
He takes his head in the target on February 1. On the first day, he will have to face the pressure of the operational and definition costs and the rapid retail sales scene. It should maintain the prices in the selection, expand the range of the fingerprint of 2000 stores, and restore financial performance, all with the consumer confidence and the investor’s confidence. Whether the Fiddelke period for decades in the targeted institutional knowledge and accumulated knowledge will prove that the original or a commitment must be seen.
