And while it’s easy to get lost in the company’s recent (poor) handling of American culture war narratives that cast it as too “woke” or too willing to cave to online fascists, the root of Target’s problems runs deep.

It didn’t have to be this way. At the start of his tenure, Cornell, who the company announced yesterday will step down as CEO on February 1, was an outsider unafraid to move fast and break things. He had been CEO of a big PepsiCo unit, Michaels Stores, and Sam’s Club before that.

Walmart is reporting higher profits and sales as it pulls in shoppers seeking low prices for groceries and other essentials.

Target analysts are expecting mixed results when the retailer reports earnings on Wednesday. Business Insider visited stores to see why.

Fiddelke acknowledged many of these problems on Wednesday, saying Target was “urgently adjusting” to tariffs and changing consumer needs, embracing technology to automate manual work, and working to mend problems like slow decision-making, siloed internal goals, and a lack of access to quality data that would drive better inventory planning.

Target also imports about half of its merchandise, compared to roughly 33% at Walmart, so it needs to raise prices at almost double the rate of Walmart to mitigate the tariff impact, Bank of America analyst Robert Ohmes said in a report this week.