Target’s New CEO Acknowledges ‘Loss of Trust’ With Shoppers (1)

Target Corp.’s new chief executive officer, Michael Fiddelke, acknowledged in his first town hall that the big-box retailer has lost trust with shoppers and employees and pledged to rebuild that connection.

“We weren’t clear enough about who we are as a company,” Fiddelke told staff on Wednesday, according to a recording viewed by Bloomberg News. “When we aren’t clear enough, that confuses people. We didn’t do enough to correct that confusion in the moment.”

Fiddelke is taking over as Target looks to address problems ranging from a lengthy sales slump to an abruptpullback from its wide-ranging ...