{
  "id": 2999164,
  "title": "Target, Starbucks and Nike are writing the 2026 turnaround playbook. Here are the key lessons",
  "url": "https://urgent.news/2026/08/24/target-starbucks-and-nike-are-writing-the-2026-turnaround-playbook",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T10:00:00.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/08/24/target-starbucks-nike-fiddelke-niccol-hill-turnarounds/"
  },
  "original_language": "en",
  "account": "Target, Starbucks, and Nike shared a common trend a year ago: the appointment of new CEOs, met with skepticism by analysts. However, our stance was different. We confidently endorsed each of these new leaders, highlighting their extensive industry experience, proven track records, and balanced expertise across various sectors.\n\nTarget, under Michael Fiddelke's leadership, surpassed expectations despite initial skepticism. Fiddelke, a long-time Target employee, was said to have the advantage of knowing the company inside out. Target's second-quarter sales surged 5.3%, digital sales grew nearly 9%, and the company raised its full-year outlook. The stock price increased by nearly 5% yearly, with a substantial 60% rise to date. The success is attributed to Fiddelke's strategic initiatives, including a $2 billion investment program to revamp stores and enhance in-store experiences, as well as the development of Target's digital platform under a newly appointed chief AI officer.\n\nStarbucks, under Brian Niccol, also showed remarkable progress. Niccol, who entered the company at a time of faltering efforts, adopted a more customer-centric approach, focusing on employee motivation and in-store experiences. He introduced an unprecedented incentive compensation program for frontline workers, raising pay and benefits significantly. This strategy resulted in a 8% surge in global and U.S. same-store sales, driven by a genuine 4% transaction growth.",
  "summary": "We saw potential where the market was wary. Here's why Target's Fiddelke and Starbucks' Niccol are making progress, and Hill bears watching.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}