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Target is in trouble. And while it’s easy to get lost in the company’s recent (poor) handling of American culture war narratives that cast it as too “woke” or too willing to cave to online fascists, the root of Target’s problems runs deep.
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Don’t get me wrong – the massive consumer boycotts from Black organizers have done damage. And there are probably folks on the far right who think even Target’s toned-down, overwhelmingly beige Pride merch this year was still too loud.
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But its stock is in the gutter and sales have been falling for two years because of good ol’ business fundamentals. It overstocked. It lost the pulse of its customers. It went up against Amazon Prime with… actually, does anyone know what Target’s Amazon Prime competitor is called?
The brand we petite bourgeoisie once playfully referred to as Tar-zhay has lost its spark. The company reported a decline in sales for a third-straight quarter, part of a broader trend of falling or flat sales for two years. Employees have lost confidence in the company’s direction. And 2025 has been a particularly rough financially, as Black shoppers organized a boycott over Target’s decision to cave to right-wing pressure on diverse hiring goals.
Shares were down 10% Wednesday.
It’s not to say the new guy, Michael Fiddelke, is unqualified. He’s been at Target since he started as an intern more than 20 years ago, after all. But Wall Street is clearly concerned that Target’s leadership is underestimating the severity of the need for a significant change— just as President Donald Trump’s tariffs on imported goods threaten the entire retail industry.
Appointing a company lifer “does not necessarily remedy the problems of entrenched groupthink and the inward-looking mindset that have plagued Target for years,” Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Wednesday.
Missing the mark
In its 2010s heyday, Target became a go-to for consumers who liked a bargain but didn’t necessarily like bargain-hunting. The shelves felt well-curated. You’d go to Target because it had one thing you needed and 12 things you didn’t know you needed. It was stocked with Millennial cringe long before Gen Z gave us the term Millennial cringe.
Target’s sales held strong through the pandemic as remote workers set up home offices and stocked up on essentials. Months of lockdown also benefited the store as people began refreshing their spaces because they didn’t really have much else to do and they were staring at the same walls all the time.
The Oktoberfest beer festival in Munich will remain shut on Wednesday until at least 5 pm (1500 GMT) after police said they discovered explosives in a residential building in the north of the city that caught fire and left one person dead.
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As part of a major operation that police earlier said posed no danger to the public, special forces were investigating an area in the north of Munich where Bild newspaper and multiple other reports said shots and explosions had been heard.
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Police said the residential building had been deliberately set on fire in a family dispute and one person who was found there had died and another was missing, but not believed to be in danger.
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Special forces had to be brought in to defuse booby traps found in the building, according to police.
“We are currently investigating all possibilities. Possible connections to other locations in Munich are being examined, including the Theresienwiese (where the Oktoberfest is located),” said Munich police on the WhatsApp messaging service.
“For this reason, the opening of the festival grounds has been delayed,” police added.
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The scale of these recent attacks means Ukraine needs any help it can get to minimize the impacts – and volunteers are playing an increasingly important role in the defensive mix.
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Civilians are forming units tasked with shooting down smaller drones with machine guns or, most recently, specially developed interceptor drones.
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The chief of staff of one of Kyiv’s volunteer formation legions, Andriy, whose call-sign is Stolyar, said his unit is composed of people from all walks of life – from construction workers to businessmen to poets.
He told CNN the training for his legion lasts for about six weeks and includes basic knowledge, simulator practice and topography lessons. Andriy asked for his last name not to be published for security reasons.
“A person must understand how to operate an aircraft. Drones are becoming increasingly complex – this is aviation, and it requires constant attention, knowledge, and skills,” he said.
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