Merchant Innovation

Can Target's New CEO Get The Company Back On Course?

In their first public discussion with analysts since CEO Gregg Steinhafel stepped down suddenly two weeks ago, Target will be discussing its first quarter earnings report, scheduled to be released Wednesday. CFO John Mulligan is has taken over as interim CEO and will be discussing the company's performance in the wake of the holiday hack that left millions of customers' data exposed.

“The retailer now has to deal with the sustainability of its franchise domestically, where momentum has stalled as the business lacks a clear merchandising strategy,” Michael Exstein, retail analyst at Credit Suisse in New York told the Globe and Mail.

Target's numbers are expected to have taken a hit during Q1 2014, analysts are predicting that profit-per-share will fall more than 6 percent to 73 cents (U from this time last year.

In a post on the company's blog, Mulligan wrote "he was not “not simply keeping the ship afloat. We need to accelerate our growth and that means we all have to move faster and empower the people around us to do the same.”

Apart from concerns about security, Target also faces concerns such as lagging e-commerce development in a world where shopping is moving increasingly online, and low inventory levels.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

——————————

LIVE PYMNTS TV OCTOBER SERIES: POWERING THE DIGITAL SHIFT – B2B PAYMENTS 2021 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Click to comment

TRENDING RIGHT NOW