Target's problems go much deeper than the national economic blackout brewing in its backyard
Robert F. Bukaty/Associated Press
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Today's the day not to do much of anything.
At least, that's what a group of ICE protesters is hoping for.
Activist groups, unions, and some celebrities, including Hannah Einbinder and Pedro Pascal, are promoting a nationwide blackout. No work. No school. No shopping. It's in response to the recent fatal shootings by immigration officers in Minnesota.
Of course, getting buzz on social media about a protest is one thing. Executing it is something else entirely. Minnesotans did take to the streets for a regional protest on January 23, but this is on a much larger scale.
It's unclear what, if any, impact Friday's protest will have on the economy. For context, boycotters last year planned an economic blackout of major retailers on February 28 to protest corporate corruption.
The impact wasn't massive — only a 5.4% drop in sales, according to Numerator — but Black and LGBTQ+ shoppers did noticeably shift their spending habits that day.
But these one-off events are more so meant to signal frustration than destroy companies' bottom lines. And some change has already been elicited, as Maine Sen. Susan Collins announced ICE halted "enhanced activities" in the state.
One company that's right in the thick of it has issues beyond a one-day blackout.
Minneapolis-based Target has deep ties to the city and a history of navigating civil unrest there. Now it has the added challenge of doing it with a new CEO.
Michael Fiddelke is facing a baptism by fire as he takes over as Target's new CEO this weekend, writes BI's Dominick Reuter and Sarah Needleman.
Hundreds of Target employees already signed a letter urging the company to bar ICE from its stores. Fiddelke addressed the situation in a video message Monday, but didn't name Trump or ICE specifically.
Fiddelke's problems don't just stem from the rising tension in the city over the past few weeks. In recent years, Tar-jay has started feeling pretty blasé. Over the past 12 quarters, 10 have had flat or declining comparable sales.
But Target didn't bring in outside talent to shake things up. Fiddelke is a true company man, starting at Target as a finance intern. And former longtime CEO Brian Cornell is sticking around as executive chairman.
Fiddelke's deep knowledge of the company could be considered a strength. But with so much ground to make up, drastic changes outside what's been the norm might be the company's best way forward.