Target is going full price with a new hire.
The discount chain, hoping to beef up its private label offerings, filched Nordstrom executive Mark Tritton to be its chief merchandising officer.
While at Nordstrom, Tritton doubled the upscale department store’s private label brands.
“Target had lost its cachet and had become boring,” said Edward Jones analyst Brian Yarbrough. “It’s apparel and home wares departments are stale.”
Tritton fills a position that had been vacant for a year. He is tasked with overseeing all buying, product design and merchandise display, though industry experts say he’ll likely focus on the apparel and home departments.
“I don’t think he’ll bring in a bunch of higher price points, but maybe some of his connections with designers will help Target bring in more deals like Lilly Pulitzer,” said Yarbrough.
Target reports results for the first quarter on Wednesday. Its shares closed down 1.3 percent, to $73.59, on Tuesday on investor concerns that sales this spring, like those at other big box chains, were soft.


