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Target is in trouble. And while it’s easy to get lost in the company’s recent (poor) handling of American culture war narratives that cast it as too “woke” or too willing to cave to online fascists, the root of Target’s problems runs deep.
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Don’t get me wrong – the massive consumer boycotts from Black organizers have done damage. And there are probably folks on the far right who think even Target’s toned-down, overwhelmingly beige Pride merch this year was still too loud.
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But its stock is in the gutter and sales have been falling for two years because of good ol’ business fundamentals. It overstocked. It lost the pulse of its customers. It went up against Amazon Prime with… actually, does anyone know what Target’s Amazon Prime competitor is called?
The brand we petite bourgeoisie once playfully referred to as Tar-zhay has lost its spark. The company reported a decline in sales for a third-straight quarter, part of a broader trend of falling or flat sales for two years. Employees have lost confidence in the company’s direction. And 2025 has been a particularly rough financially, as Black shoppers organized a boycott over Target’s decision to cave to right-wing pressure on diverse hiring goals.
Shares were down 10% Wednesday.
It’s not to say the new guy, Michael Fiddelke, is unqualified. He’s been at Target since he started as an intern more than 20 years ago, after all. But Wall Street is clearly concerned that Target’s leadership is underestimating the severity of the need for a significant change— just as President Donald Trump’s tariffs on imported goods threaten the entire retail industry.
Appointing a company lifer “does not necessarily remedy the problems of entrenched groupthink and the inward-looking mindset that have plagued Target for years,” Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Wednesday.
Missing the mark
In its 2010s heyday, Target became a go-to for consumers who liked a bargain but didn’t necessarily like bargain-hunting. The shelves felt well-curated. You’d go to Target because it had one thing you needed and 12 things you didn’t know you needed. It was stocked with Millennial cringe long before Gen Z gave us the term Millennial cringe.
Target’s sales held strong through the pandemic as remote workers set up home offices and stocked up on essentials. Months of lockdown also benefited the store as people began refreshing their spaces because they didn’t really have much else to do and they were staring at the same walls all the time.
Extreme heat is a killer. A recent heat wave shows how much more deadly it’s becoming
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Extreme heat is a killer and its impact is becoming far, far deadlier as the human-caused climate crisis supercharges temperatures, according to a new study, which estimates global warming tripled the number of deaths in the recent European heat wave.
For more than a week, temperatures in many parts of Europe spiked above 100 degrees Fahrenheit. Tourist attractions closed, wildfires ripped through several countries, and people struggled to cope on a continent where air conditioning is rare.
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The outcome was deadly. Thousands of people are estimated to have lost their lives, according to a first-of-its-kind rapid analysis study published Wednesday.
A team of researchers, led by Imperial College London and the London School of Hygiene and Tropical Medicine, looked at 10 days of extreme heat between June 23 and July 2 across 12 European cities, including London, Paris, Athens, Madrid and Rome.
They used historical weather data to calculate how intense the heat would have been if humans had not burned fossil fuels and warmed the world by 1.3 degrees Celsius. They found climate change made Europe’s heat wave 1 to 4 degrees Celsius (1.8 to 7.2 Fahrenheit) hotter.
The scientists then used research on the relationship between heat and daily deaths to estimate how many people lost their lives.
They found approximately 2,300 people died during ten days of heat across the 12 cities, around 1,500 more than would have died in a world without climate change. In other words, global heating was responsible for 65% of the total death toll.
“The results show how relatively small increases in the hottest temperatures can trigger huge surges in death,” the study authors wrote.
Heat has a particularly pernicious impact on people with underlying health conditions, such as heart disease, diabetes and respiratory problems.
People over 65 years old were most affected, accounting for 88% of the excess deaths, according to the analysis. But heat can be deadly for anyone. Nearly 200 of the estimated deaths across the 12 cities were among those aged 20 to 65.
Climate change was responsible for the vast majority of heat deaths in some cities. In Madrid, it accounted for about 90% of estimated heat wave deaths, the analysis found.
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