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CNN

Why customers turned away from Target

CNN · Recent
CNN
CNN
Recent

Target CEO Brian Cornell is stepping down after 11 years at the retailer, as the company faces slumping sales and backlash to its retreat on DEI. Michael Fiddelke, Target’s current chief operating officer, will replace Cornell on February 1, 2026.

Breakdown
  • Target CEO Brian Cornell steps down after 11 years with the company.
  • Target's stock has dropped over 20% and sales have declined for another quarter. 20s
  • A customer boycott followed Target's rollback of DEI initiatives, impacting sales. 1m 16s
  • Tariff pressures have affected 50% of Target's inventory, which is manufactured abroad. 1m 41s
  • Michael Fidelke will become the new CEO as Target seeks to recover. 45s
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