Reported 12 days ago
Since becoming Target's first external CEO in 2014, Brian Cornell has transformed the retailer amid competition from giants like Walmart and Amazon. Following challenges, including a failed expansion into Canada and a data breach, Cornell's strategic moves—such as acquiring delivery service Shipt and investing heavily in store improvements—helped bolster revenues, particularly during the pandemic. However, Target has faced declining sales recently due to increased retail theft and a focus on non-essential goods. To counter this, the company is revitalizing its approach with significant store investments and the launch of a membership program to compete with Amazon Prime, showing early signs of recovery with a 2.7% increase in sales in Q2 2024.
Source: YAHOO