Target's grocery chief is stepping down as the retailer struggles to overhaul a key business and attract more shoppers to visit its grocery aisles. Roselle Chen reports.
Target's grocery chief is stepping down. Anne Dament will leave the company on November 18th, less than eighteen months on the job. Her departure is the latest in a broader effort to revamp Target's grocery business, and make it more compelling for millennials. And there is a lot to fight for. Groceries account for a fifth, or about $18.5 billion, of Target's overall sales. For the past few years, the sixth-largest U.S. retailer has been adding more healthy, organic, and gluten-free items. But despite these efforts, grocery sales during the second quarter fell, with Target reporting its first quarterly drop in comparable sales in two years. The company also lowered its forecast for the rest of the year. Dament's departure is the third high-profile exit at Target in less than four months.