Target Corporation reported a 5.6% sales increase in Q1 2024, its largest growth in four years, under new CEO Michael Fiddelke who implemented strategic changes including leadership reshuffling, increased store staffing, distribution facility cuts, and appointed a former Walmart executive as head of supply chain to improve inventory management.
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Target CEO guardedly optimistic amid strong 1st quarter resultsAdded:
An encouraging earnings report from Target today. The Minneapolis-based retailer says its sales rose 5.6% in the first quarter of that year. That's his largest sales jump in four years.
Michael Fiddelke took over as Target CEO in February. He says he's guardedly optimistic about the future. He's reshuffled the leadership team, increased spending on store staffing, and made cuts at distribution facilities and regional offices. Yesterday, Target named a former Walmart executive as his new head of supply chain as it works to keep store stock.
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