Target aims to play retail tech offence

Target plans to continue its significant investment in technology, supply chain and new stores, its new CFO has said.

“We want to play offence,” Michael Fiddelke told StarTribune. Target had planned to spend at least $7 billion over the past three years to refresh hundreds of stores, open dozens of new ones and upgrade its technology and supply chain. But the final figure was closer to $9 billion as the retailer decided to remodel even more stores.

Execs will this week lay out the latest updates to the road map. While Target will slightly decrease its capital expenditures as the pace of new store remodels slows after this year, it will continue its focus on technology and the supply chain.

“That’s the thing that we think has driven our success and so we’ll continue to keep an eye out for what are the right places we can continue to invest,” Fiddelke said.

Supply chain hire

Target recently announced the hiring of Heath Holtz as Senior Vice President, Field Operations. He joins from Nissan Motor Corporation, where he most recently served as Senior VP of Manufacturing, Supply Chain Management and Purchasing in North America.

Arthur Valdez, Executive Vice President and Chief Supply Chain and Logistics Officer, said: “We have built an industry-leading supply chain and logistics network that supports our stores as shopping destinations and local fulfilment hubs. Heath’s strong track record of leading global teams to elevate operational quality and efficiency make him a valuable addition to Target as we continue evolving our supply chain to meet guest needs.”