In the latter half of 2022, even as a spike in prices spurred a consumer exodus toward essentials, shares of big-box chains Walmart Inc. and Target Corp. were both moving along a similar path.

Cracker Barrel joins Target, Bud Light and other companies facing public outcry over corporate decisions as its new logo change triggers investor unease.

Target CEO Brian Cornell, who helped reenergize the company but has struggled to turn around weak sales in a more competitive retail landscape since the COVID pandemic, plans to step down Feb. 1. Minneapolis-based Target Corp.

The company's current COO, Fiddelke believes that "being unapologetically and unmistakably Target" will help get the Minneapolis-based retailer back on track.

A redoubled focus on style “may not be enough in a retail landscape where convenience, selection and speed have rapidly evolved and redefined the competitive landscape,” according to one analyst.

Target Corp. named veteran Michael Fiddelke as its next chief executive officer, betting that the insider will revive the storied retailer struggling with weak sales.

Target Corp. has named company Chief Operating Officer Michael Fiddelke to succeed Brian Cornell as chief executive officer effective February 1, 2026. The announcement came following a unanimous Board of Directors vote. Fiddelke will also join Target’s Board of Directors at that time.

S hares of Target Corp. slumped 9.4% in premarket trading Wednesday, after the discount retailer said it was replacing for Chief Executive Brian Cornell, who has been in charge for the past 11 years, with current Chief Operating Officer Michael Fiddelke, effective Feb. 1, 2026.

Results over the last few years have fallen short of our expectations and our potential,” current CEO Brian Cornell says.

Target Corp. on Wednesday named Michael Fiddelke as its new chief executive, promoting the company veteran who has served as chief operating officer since January 2024. Fiddelke, 49, will succeed Brian Cornell, who led the Minneapolis-based retailer for 11 years through a period of significant growth and recent challenges.

Target CEO Brian Cornell announced he will step down from the position. Here’s what to know about one of Minneapolis’ top employers.

Q2 2025 Earnings Call Transcript August 20, 2025 Target Corporation beats earnings expectations. Reported EPS is $2.05, expectations were $2.04. Operator: Ladies and gentlemen, thank you for standing by.