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Michael Fiddelke serves as the top-tier operational leader, acting as the COO.

Retailer reorganizes merchandising structure, assigning distinct roles for non-essential and basic items.

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Retailer Reorganizes Merchandising Structure, Assigning Discretionary Categories and Essentials...
Retailer Reorganizes Merchandising Structure, Assigning Discretionary Categories and Essentials Separately.

Michael Fiddelke serves as the top-tier operational leader, acting as the COO.

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🚀 Target announced that Mike Fiddelke is now the big cheese in the retail realm, taking on the role of Chief Operating Officer (COO) starting on February 4th. This move comes accompanied by fresh leadership for Target's merchandising team, as they prepare to tackle the challenges of size, scale, and complexity that come with giants like Target.

🕰️ Fiddelke has been with Target since way back in 2003, joining as an intern. Over the years he's held numerous leadership roles, including serving as the Chief Financial Officer (CFO) since late 2019. He'll continue to juggle both roles until a new financial guru joins the team.

On the merchandising front, things are shaking up too! Rick Gomez, formerly the company's chief food and beverage officer, will expand his empire to include Target's frequency categories, making him the Chief Food, Essentials, and Beauty Officer. Meanwhile, Jill Sando, Chief Merchandising Officer, will focus on discretionary categories, overseeing apparel and accessories, home, and hardlines. They'll both continue reporting to Christina Hennington, Chief Growth Officer.

💪 Fiddelke is no stranger to the hot seat, having a diverse background spanning various aspects of Target's business. His new role gives him an end-to-end view of the company's operations, and CEO Brian Cornell says this will be beneficial for Target's continued growth.

As CFO, Fiddelke shared that during the first three quarters of 2023, operations generated over $5.3 billion in cash. That's quite a significant bump from the around $550 million in 2022. Drive-up service, a key area under Fiddelke's purview, now rakes in over $7 billion in annual sales for Target. Plus, same-day services grew over 8% in the last quarter, with drive-up seeing a 12% increase. Target's Q3 revenue was $25.4 billion, down 4.2% year-over-year.

💡 When discussing his appointment, Fiddelke emphasized that operations teams are at the heart of creating fantastic experiences for Target's customers. He believes it's all about ensuring that the vision and PowerPoints translate into smooth, delightful interactions for the consumers.

💼 Meanwhile, Rick Gomez and Jill Sando have been with Target for a while, too. Gomez joined in 2013 and became a part of the leadership team in 2017. Sando joined in 1997 and made it to the big leagues as of 2020.

Target also bid adieu to Don Liu, its Chief Legal and Compliance Officer. Liu has been with the company since 2016 and will be succeeded once a new comrade is found. Until then, he'll continue to lend his wisdom as a strategic adviser. "Don has been an invaluable asset to our leadership team and a trusted advisor to many," Cornell shared in a statement. "We appreciate his dedication and look forward to honoring him as he embarks on his well-deserved retirement." 🎉

  1. In the retail industry, artificial intelligence might play a significant role in addressing the challenges of size, scale, and complexity that Target faces.
  2. As the new COO, Mike Fiddelke will now oversee Target's merchandising team, blending his financial expertise with merchandising insights to drive growth.
  3. The AI sector could prove beneficial for Target's merchandising, using data analytics to better target customer preferences and increase sales.
  4. With Fiddelke's strong background in Target's business, AI could help streamline operations, ensuring a more seamless transition from vision to consumer-friendly interactions.
  5. Rick Gomez, who now heads food, essentials, and beauty, and Jill Sando, focusing on apparel and accessories, home, and hardlines, could leverage AI tools to aid in merchandising decisions, improving Target's bottom line.
  6. To maximize efficiency and effectiveness in the merchandising department, AI integration could become an essential part of Target's business strategy, keeping them competitive in the ever-evolving retail landscape.

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