What is Target doing to improve sales?

Target is investing $1 billion in store remodels, refreshing merchandise, and improving the in-store experience to drive growth.

Why are Target's sales declining?

Target's sales have been impacted by economic pressures on consumers, shifting holiday spending priorities, and a general trend of flat or negative comparable sales.

When will Michael Fiddelke become CEO of Target?

Michael Fiddelke is set to take the helm as CEO from outgoing CEO Brian Cornell on February 1.

Home / Business and Economy / Target Bets Big on $1B Facelift Amid Sales Slump

Target Bets Big on $1B Facelift Amid Sales Slump

19 Nov, 2025

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Summary

Target is investing $1 billion to remodel stores and refresh merchandise.
Comparable sales declined 2.7% last quarter, missing analyst expectations.
Incoming CEO aims for rapid return to growth despite economic pressures.

Target Bets Big on $1B Facelift Amid Sales Slump

Target is committing an additional billion dollars to enhance its store fleet, aiming to reignite growth after a challenging period. The Minneapolis-based retailer reported its tenth quarter of negative or flat comparable sales in the last twelve, and anticipates a further decline in the crucial fourth quarter. Incoming CEO Michael Fiddelke has stated that the company is far from satisfied with its current performance.

The retailer's third-quarter comparable sales fell by 2.7%, falling short of analyst predictions, although earnings per share exceeded expectations. Fiddelke cited a significant drop in September as a primary reason for the shortfall. To address these issues, Target plans to increase annual capital expenditures from $4 billion to $5 billion, focusing on store renovations, merchandise assortment, and floor plan changes.