Target's new CEO says retailer lost trust with shoppers and staff.

Target's new CEO Michael Fiddelke told staff the company has lost trust with shoppers and employees and pledged to work on rebuilding those connections; the company says it is focusing on merchandising, store experience and supporting its teams and communities, Reuters reported.

Target's incoming chief executive, Michael Fiddelke, told staff the company had lost trust with shoppers and employees and said rebuilding that connection is a priority. He spoke during his first town hall, according to Bloomberg News. Fiddelke took over in February, replacing Brian Cornell. Reuters reported the company is concentrating on merchandising, store experience and support for teams and communities. Key points: - Michael Fiddelke said Target had lost trust with both shoppers and staff and pledged to reconnect. - Fiddelke became CEO in February, succeeding Brian Cornell, and previously announced corporate job reductions. - A company spokesperson said priorities include accelerating growth through merchandising, improving the store experience and supporting employees and communities. Summary: The remarks underline a leadership focus on restoring relationships with customers and employees while the retailer addresses recent operational and organizational changes. Undetermined at this time.