"Much of the front half of the year for Target was defined by the company's decision in January to pull back on some diversity, equity and inclusion initiatives as the Trump administration took power. That led Black-owned brands and employees to question Target's commitment to the progressive values that once defined its brand. In May, Target's CEO finally addressed the topic, somewhat, saying its values of inclusivity, connection and drive "are not up for debate.""
"As the company continued to report poor sales performance throughout the back half of the year, it finally began to make changes and started new initiatives. That included naming its chief operating officer, Michael Fiddelke, CEO, discontinuing online fulfillment in some stores, launching an app in ChatGPT and opening a fashion-forward store in New York City. In October, Target cut 1,800 jobs throughout the company, consolidating its corporate workforce."
"This year will likely be remembered as when Target betrayed the trust of many shoppers and employees. It also could be the year the company planted the seeds for a successful turnaround, but it remains to be seen whether it will be successful in doing so."
Target pulled back on some diversity, equity and inclusion initiatives in January as the Trump administration took power, prompting Black-owned brands and employees to question the company's commitment to progressive values. The CEO affirmed values of inclusivity, connection and drive but communications experts said the response did not directly address vendor and employee concerns. Poor sales persisted through the year, prompting leadership changes with Michael Fiddelke named CEO, operational shifts including ending online fulfillment in some stores, launching a ChatGPT-enabled app, opening a fashion-forward New York store, and cutting 1,800 corporate jobs. The company's financial recovery remains uncertain.
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