Target CEO: 'Making Sure We Stay True To Our DNA'

Target Corporation TGT recently sold its pharmacy and clinics business to CVS Health Corp CVS for $1.9 billion in its effort to transform itself.

Brian Cornell, Target Chairman & CEO, was on CNBC Wednesday to discuss the company’s transformation strategy going forward.

Staying True To Our DNA

“The feedback that we have received over the last year and some of the learning, it’s just how important it is for us to be true to our brand promise, expect more pay less,” Cornell began. “And I think, we know over the last few years, we may have lost some of that balance. We may have focussed too much on the pay less side. So, getting back to what makes Target, Target, what makes Target, [targe].”

He continued, “That excitement we bring with newness, with innovation, with great style. The excitement we are able to create just a few months ago with the Lilly event and that collaboration, where I really felt we brought up black Friday event into April and we excited our guests with great style, design. We are going to continue to make sure we commit staying true to our DNA and that expect more pay less brand positioning has to guide everything we do.”

Millenials

Cornell was asked if Target’s transformation strategy in parts is focussed on millennial shoppers. He replied, “We think about them every day. And in fact as we talk about today’s Target guest, we are really focussed on what we call the demanding enthusiast and it really is that millennial family that loves to shop, expects great value, is very digitally connected and what we recognize is more and more that includes [Hispanic] families. So, we think about them every day.”