Tritton has some homework to do. Maybe he doesn’t realize that Targets sales are down. As Dr. Eowyn noted last August, Target blamed it on the economy and the declining buying power of the consumer. The executives are totally clueless. They will not admit that the boycott against their transgender bathroom policy is having an effect on their bottom line. Yet apparently Tritton believes Target “hasn’t lost anything.” Go figure…
From Seattle Times: Some analysts and shoppers say Target has lost some of its je-ne-sais-quoi “Tar-zhay” magic. Mark Tritton doesn’t buy it. “We haven’t lost anything,” said Tritton, who now is the ultimate decision-maker on what products Target sells.
Legions of devoted shoppers in decades past adopted the Frenchified Tar-zhay nickname to reflect the elevated shopping experience the Minneapolis-based retailer created while still being a discount chain. “How do we capitalize on that now and take it even further? It’s Tar-zhay plus or Tar-zhay squared,” said the newly crowned chief merchant.
What exactly that vision looks like remains to be seen.
For now, Tritton is calling it the “Target mojo” as he meets with vendors and his team to capture the spirit of innovation he wants to bring to merchandising and the shopping experience.
Tritton, a loquacious, exuberant man with thick dark-rimmed glasses and a big laugh, joined Target in June from Nordstrom.
He’s already seen plenty of examples of forward movement. He lavishes mounds of praise on Target’s recently launched kids apparel line Cat & Jack. That line, which replaces two other longtime in-house Target brands, Cherokee and Circo, was developed before he arrived but is a big move in the right direction, he said.
He sees other private-label brands within Target that could be up for total reinvention, too. “How do we leverage that level of refresh and redefine on our overall portfolio,” he said. “I think there’s opportunity for that.”
He’s not yet ready to discuss what may be coming up next, even a new women’s apparel line that is reportedly in the works. “Uff da,” he said, laughing, when pressed for details. He had just learned the common Minnesota phrase the night before.
Wendy Liebmann, chief executive of consulting firm WSL Strategic Retail, also sees a lot of room for Target to revamp its offerings, especially as other fast-fashion retailers such as H&M, Zara and Forever 21 are more quickly offering customers the latest fashion trends. “Target was always that perfect balance of need and want,” she said. “To me, that is really out of kilter right now.”
Tritton acknowledges he has his work cut out for him. “It’s a really exciting time to join,” he said. “Lots to do — but no one’s saying that’s not the case. We’re very transparent about that.”
Read the rest of the story here.