An article in The Wall Street Journal “Marketplace” section featured a who’s who of retailers getting their rears kicked for an absence of new ideas and an inability to anticipate current and future retailing changes.
Among the headlines:
- Big Retailers Find It Hard Shopping for a CEO (featuring JC Penney, American Eagle Outfitters, and Target)
- Whole Foods Shares Drop on Flat Earnings
- Office Depots Plans to Shut 400 Sores
- Sear’s CEO Signals More Closings Likely
The CEO article that includes Target said the retailer is ready to move away from its 112-year track record of internal leadership to look beyond Target, and potentially the retail industry, for its next leader.
Why the change in strategy?
Target needs “fresh eyes” to create dramatic change, rapidly test more new ideas, and get “pilots” and “experiments” into its retail stores with greater speed.
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