1. Target’s shares have plummeted and annual sales have stagnated for four years.
2.Customers, vendors and former employees told CNBC that the discounter has lost some of the unique traits that helped it stand out, including its eye-catching merchandise, attentive staff and well-kept stores.
3.The big-box retailer is expected to gain a new leader, too, as CEO Brian Cornell’s contract winds down.
Shortly before a road trip in early 2024, Mary Molina realized her view of Target had changed.
Molina, a mother of five and entrepreneur who lives in Westchester, New York, said her weekly trips to Target looked and felt different from her experience before the Covid pandemic. Items such as national brands of laundry detergent or shampoo were often out of stock. She said store employees weren’t as friendly as before, with heads down or eyes glued to a handheld device as they picked orders for an online shopper. And when she browsed for the cute and trendy swimsuits, pajama sets or sandals she had typically found at Target, she said it felt like “a sea of generic.”
0 Comments