In the wake of the Canadian fiasco, Fortune sets its sights on Target CEO Brian Cornell, asking “Will he re-energize the retailer?” He faces a hard task:
A company that became a national phenomenon with retail alchemy — a rare ability to attract millions with hip designer items at clear-out prices — has seen that delicate formula stifled by excessive caution and a strangling bureaucracy, even as competitors emulated Target’s approach, and fast-fashion retailers like H&M, off-price chains such as T.J. Maxx, and dollar stores all muscled onto its turf.
The retailer is no longer winning on style or on price.
The story is an in-depth sweep through Target’s recent missteps and some of the changes Cornell is implementing in hopes of turning things around.
Finally, some love for St. Paul. You can vote for Minnesota’s capital in Grantland’s “Who is the Top Second Banana?” bracket. St. Paul, second banana to Minneapolis, faces stiff competition in the first round from the good ol’ U.S.A.’s second banana: Canada. [Hat tip: commenter Mark Ohm]
An end to the great pay-raise kerfuffle? The Star Tribune announces that legislative leaders have reached a deal on raises for state commissioners.
In other news…
Kevin Garnett is coming back to the Timberwolves [Sports Illustrated]
MN near bottom in on-time graduation for students of color — for the third year in a row [MPR]
The top 10 ‘Minnesota Normal’ behaviors [WCCO]
Fortune’s most admired companies: 3M makes #21, Target drops to #48 [Minneapolis/St. Paul Business Journal]
Garrison Keillor to leave A Prairie Home Companion? [MPR’s NewsCut]