Target is so so iconic, it’s frequently earned a playful ribbing on Saturday Night Live over the years.
But where once the skits poked fun at the its red bullseye branding, and attempt at having a ‘cool mom’ aspirational vibe, the skits have taken a darker turn in recent years, with comics zeroing in on Target’s clumsy navigation of America’s culture wars.
In one 2023 sketch, cast members joked that Target had ‘put diversity training in aisle five’ and that the store’s new slogan was ‘Expect More, Offend Everyone.’
Another gag had employees confused about whether they were supposed to stock shelves or hand out pronoun badges.
With all good comedy comes a basis in fact; and picking apart the chain’s divisive diversity and Pride merchandise shows the chain’s golden days are well and truly behind it.
Brian Cornell, 65, who has helmed the Minneapolis-based retailer for 11 years, announced Wednesday he will step down at the end of January – leaving behind a company grappling with sliding sales, disenchanted shoppers, and a battered reputation.
Target reported a staggering $227million drop in sales in the April to June quarter, alongside a plunge in profits – the latest blow in 18 months of weak performance.
Neil Saunders, managing director at GlobalData, didn’t mince words: ‘The decline is entirely self-inflicted,’ he said, pointing to empty shelves, endless checkout lines and irate customers.
Kristen Wiig as cashier, Dane Cook as employee, Rachel Dratch as customer during Target skit in December 2005
Target’s stock price has plummeted since January
‘All these things actively train customers not to shop at Target, especially when shoppers are laser-focused on value for money and time.’
Problems run deep – from messy stores and confusing product launches to its politically charged spats over Pride collections, diversity hiring initiatives and tariffs.
Workers have taken to Reddit and TikTok to complain of vanishing hours, chaotic backrooms and a lack of communication from management.
They have posted videos showing mountains of stock, with staff accusing executives of leaving stores understaffed while expecting ‘spotless departments’.
‘I hope these go viral so the corporate people might rethink how they unstaffed their stores and expect spotless departments,’ an employee said alongside a TikTok showing mounds of unshelved clothing.
‘All we can do is ride it out and hope for the best. If it comes down to it, prepare a resume just in case.’
Normally, when a struggling CEO steps aside, Wall Street breathes a sigh of relief. But Target’s stock plunged on Wednesday – not because investors wanted Cornell gone, but because he isn’t really leaving.
He will remain as executive chairman.
Cornell said he would step down from his position at the start of 2026 – he will stay on board as the executive chairman
Target reported a 0.9 percent drop in sales and a 1.2 percent decline in profits last quarter
The company’s rollout of Pride collection products angered customers on the right – then the removal of DEI hiring practices angered customers on the left
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Just as troubling for analysts: his replacement is another company insider. Michael Fiddelke, the current chief operating officer and a Target lifer, will take the reins instead of an external candidate who might have shaken things up.
By contrast, Starbucks made a bold, high-profile move by hiring Brian Niccol from Chipotle.
The appointment sent Starbucks stock soaring, signaling to investors and the market that the company was serious about fresh ideas, operational expertise, and a new strategic direction.
Carol Spieckerman, an independent retail analyst, said she had hoped for ‘fresh blood’ at the top of Target.
‘I’ve really stuck it to Cornell. Some of his comments have been defensive and tone deaf,’ she said.
‘I hope the new CEO goes on a listening tour to really hear from Target’s employees and customers and find improvements.’
Steve Dennis, a consultant at SageBerry, agreed Cornell’s exit was ‘long overdue.’
‘To be perfectly blunt, leaders at Target have not been leading,’ Saunders added.
Conservative activists have taken issue with the company’s yearly Pride Month collections
‘This is an internal appointment that does not remedy the problems of entrenched groupthink and the inward-looking mindset that have plagued Target for years.’
Cornell’s fall from grace has been swift.
For years, he was hailed as a visionary, rolling out hugely popular private labels like Good & Gather, All in Motion, and Threshold, and investing in drive-up pickup technology that gave Target an edge during the pandemic while Walmart and Kohl’s shuttered operations. He partnered with brands including Levi’s, Ulta Beauty and Starbucks, making Target feel fresh and high-end.
But the gloss wore off in 2024. American families were still battling the hangover of 9% inflation that peaked in 2022, and Target’s image as a higher-end box store clashed with shoppers’ need to stretch every dollar on groceries.
Then came the firestorm. In 2023, conservative activists targeted Target’s Pride collection, railing against children’s items being included in the line. In 2024, the backlash spread to the left after the company shifted its DEI hiring policies, infuriating progressive shoppers.
Staff morale also sagged, with internal surveys showing frustration over muddled communication and sluggish responses to store-level problems.
Analysts say new boss Fiddelke faces a daunting task. But Target is still profitable and retains plenty of consumer goodwill.
‘The company is still unique,’ Spieckerman said.
‘I don’t like piling on. They can pull this around, but they need to focus on communication.’
Target declined to comment.