CEO Brian Cornell Says Target Is Speeding Up Change To Compete In Today’s Retail World
As the retail world found itself in crisis last year, Target Corp. started to pick up its pace. After spending more than a year testing new layouts and fixtures, Target geared up on remodeling hundreds of stores over the next few years. After finding success with a couple new in-house brands, notably the $2 billion Cat & Jack kids clothing line, it launched 10 more last year including a popular men’s clothing label. And after years of piloting small-format urban stores, it stepped on the gas with plans to open 30 to 40 a year over the next few years. Since CEO Brian Cornell arrived at the Minneapolis-based retailer nearly four years ago, he has talked a lot about the need for the company to move faster. Now it seems to be happening. “We put a premium on speed and agility, but we also want to make sure we’re making the right choices,” Cornell said during an interview at Target’s bustling Nicollet Mall store, which has a sleeker look following a $10 million makeover. “We now have more of the proof points in place and we can accelerate.” Read more at Star Tribune.
