Wednesday, June 29, 2011

Target's CEO on products, prices, and plans

In an interview with USA TODAY, Target CEO Gregg Steinhafel shows it's full-speed-ahead for the chain, in contrast to the jitters at many other retailers. He's presiding over the company's record number of remodeled locations this year, the opening of smaller urban stores, plans for an expansion into Canada and an overhaul of its website, which will soon operate independently of Amazon.

Consumers can look forward to more fresh food and new higher-end clothing and houseware designers — including Missoni — offered on a limited-time-only basis. But those who rely on after-Christmas sales for their holiday decorating and sweater needs may be disappointed. He's cutting inventories to reduce the need for post-holiday markdowns.

Steinhafel, 56 (shown here) started as a "Buyer in Training" at Target in 1979. He was named president in 1999, president and CEO in May 2008, and chairman of the board in January 2009. He continues to hold all three titles.

You can read the full USA TODAY article here.

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