Target's Sales Slump: New CEO's Challenge

Targets third-quarter profits plummeted by 19%, with a 43% stock drop over the past year, as the retailer grapples with high inflation and stiff competition from Walmart. New CEO Michael Fiddelke faces the daunting task of reviving sales, with plans to introduce 20,000 new items, lower prices on essentials, and invest $5 billion in store remodeling and expansion.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.