The Damage Report
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Target PLUNGES As CEO Quits After Staggering Boycott Consequences Over Trump Decision
Posted
August 20, 2025
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8:42Now PlayingTarget sales and stocks plunge in disaster numbers as CEO Brian Cornell announces he is stepping down amid backlash and plunging traffic from consumer boycotts following the company caving to Trump on DEI orders and other rollbacks of in-store products. John Iadarola and Sharon Reed break it down on The Damage Report. Leave a comment with your thoughts below!
Read more here:
Target CEO steps down as company faces weak sales and customer boycott
"The CEO of Target is stepping down, as the embattled retail giant seeks to turn around its fortunes amid an ongoing customer boycott over its scaling back of diversity, equity and inclusion (DEI) initiatives.
Brian Cornell will be replaced next year by Michael Fiddelke, Target’s chief operating officer, the company said on Wednesday.
Cornell helped re-energize the company when he became CEO in 2014, but has struggled to turn around weak sales in a more competitive retail landscape since the Covid pandemic.
Sales at Target, which has almost 2,000 stores across the US, fell more than expected in the first quarter of 2025, and the retailer warned earlier this year that sales will continue to slip through the rest of the year. Target said people were scaling back spending over worries about the impact of tariffs and the state of the economy. The company also said customer boycotts affected sales."
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