Target CEO Brian Cornell to Step Down Amid Sales Slump and Customer Boycotts

Target Corp. said Wednesday that longtime Chief Executive Officer Brian Cornell will step down next year, as the retailer struggles with slowing sales and customer boycotts tied to its diversity, equity and inclusion (DEI) policies.

According to The Guardian, Michael Fiddelke, Target’s chief operating officer, will succeed Cornell, who has led the Minneapolis-based company since 2014. Cornell is credited with revitalizing the brand during his tenure but has faced mounting challenges since the COVID-19 pandemic reshaped consumer spending and intensified retail competition.

The transition comes as Target contends with declining revenue and intensifying political pressures. The company reported a steeper-than-expected drop in first-quarter 2025 sales and projected further weakness through the rest of the year. In the second quarter, Target said net income fell 21% while comparable sales — a key retail metric covering both stores and online activity — slipped 1.9%. Comparable sales have now been flat or falling in eight of the past 10 quarters.

Target has also faced backlash over its DEI policies. In January, the retailer scaled back several initiatives after facing criticism from conservative activists and the White House. The move prompted boycotts from progressives and civil rights groups who said the company abandoned commitments to inclusivity.

The Guardian reported in July that many Black Americans were among those boycotting Target and other large retailers. Earlier this year, more than 250,000 people pledged to join a 40-day “Target Fast” called by Rev. Jamal Bryant of New Birth Missionary Baptist Church in Georgia.

The company also faced scrutiny in 2024 after reducing its Pride merchandise collection following right-wing criticism, sparking further discontent among LGBTQ+ advocates and their allies.

Target operates nearly 2,000 stores across the United States and has long positioned itself as a mass-market retailer with progressive branding. But shifting political pressures, consumer caution over tariffs, and broader economic concerns have strained the company’s performance.

In a statement, Target said the leadership change is aimed at positioning the company for long-term growth. Cornell will remain with the company through the transition.