Investing.com - Target Corporation (NYSE:TGT) has hired of two new senior food and beverage leaders. Mark Kenny and Liz Nordlie, to accelerate the retailer’s food and beverage strategy.
The company is currently implementing new growth strategies to bolster its performance amidst a hyper competitive environment. Analysts have been optimistic about these strategies, including the company's plan to introduce more than a dozen private label brands over the next three years. However, there are concerns about the company's food business. MKM Partners said that the food category is “one of the weaker areas of the store” with target limited by the shelf space allocated to perishable food.
Mark Kenny will join Target as vice president divisional, meat and fresh prepared food where he will oversee the meat, seafood, deli, bakery and prepared food categories. Kenny joins Target from Walmart (NYSE:WMT) Inc., where he most recently was the senior director of private brands, deli and bakery.
Liz Nordlie will join Target as vice president, product design and development for food and beverage. Nordlie will oversee the brand direction and product vision for owned brand food and beverage categories. Nordlie joins Target from General Mills (NYSE:GIS), Inc.
Kenny and Nordlie will join Target later in August. Target is scheduled to release earnings on Wednesday. Shares were fractionally lower during Monday's after hours session.