MINNEAPOLIS — Target plans to spend billions of dollars this year to end a persistent sales slump and to regain its image as a fun place to shop for stylish clothing, housewares, beauty products and packaged food at affordable prices.
The CEO guiding the turnaround plan is Michael Fiddelke, who stepped into the chief executive role last month but has worked for Target for more than 20 years.
Fiddelke, who previously served as chief operating officer, has his work cut out for him. Some investors wanted an outsider to lead the company when Brian Cornell stepped down as CEO after more than 11 years. On Tuesday, the mass-market retailer turned in another quarter of declining comparable sales. Target also faced pressure to take a public stand against the immigration crackdown in Minneapolis, where the company is based…