Target CEO Brian Cornell falls, named Michael Vidlek

Targeted CEO Brian Cornell The next year will step down after more than a decade on his head, as the seized retail seller will make a great effort to the risks aimed at reformulating growth and reflecting the sliding sales.

The company announced on Wednesday that the Menabolis -based company, which is based in the Mininapolis, was unanimously elected Michael Vidlele, the current general manager of the company, to become a member of its board of directors on February 1.

The news comes at a time when Cornell, 66, concludes the three -year commitment he suffered in 2022 to remain the CEO. That year, the 65 -year -old Target’s council canceled, allowing it to stay during a pivotal period of the company because it works to revive traffic and growth.

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Over the past twenty years in Target, 49 -year -old Fiddelke has been credited with an effective role in building many basic strengths of the company, and holding leadership roles through trade, financing, operations and human resources. In his current position, Target said that Fiddelke has supervised the efforts that enabled Si growth throughout business, including investments to build and expand the company’s stores, supply chain, digital capabilities and team. He also led the efforts of the institutions to provide more than two billion dollars in efficiency.

Christine Lesi, the independent director of Target Board of Directors, said, ”

Leahi said that the period of Vidleke gives him an unparalleled institution and foundations of the strong team’s confidence, noting that “what distinguishes it is how it combines this force with the mentality of” new eyes “, and challenge the current situation to develop how
Business works, distinguishing and providing long -term value. “

The target sales declined amid the tariff war, Dei changed a violent reaction

In the latest financial Quater, the company has reported $ 25.2 billion sales, a little decrease from 1 % from last year. The company blamed shoppers who retreat from goods, although this was partially balanced through stronger sales, such as services. Sales in stores open at least at least 2 %, with sales in the store drop by more than 3 %. Online sales, however, grew slightly over 4 %. In general, the profit for a quarter was $ 1.3 billion, which decreased about 19 % from last year.

The company has already warned earlier this year that there will be profit pressure throughout the year in the first quarter for the remainder of the year, in part due to the uncertainty in the customs tariff.

To try to return to profitable growth in the long term, the company announced in May that it has developed a new multi -year growth initiative, called the Office of Institutions, and has made changes to its executive wing.

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Cornell said that the Foundation’s acceleration office initiative will specifically help the company to operate more clearly, “creating conditions for speed and ability to adapt, innovation and flexibility.”

index	protection	last	Changing	% Change
TGT	Target corp.	105.38	+0.42	+0.40 %

The goal maintains its expectation of low numbers in sales in 2025, decreasing from its previous forecast for the growth of sales of about 1 %. It expects that approximately $ 7 to $ 9 for the fiscal year 2025 will range from its previous expectations from 8.80 dollars to $ 9.80.