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Target names longtime insider Michael Fiddelke its next CEO as it tries to break sales and stock slump

Wall Street had hoped the big box retailer would hire someone from outside the company. Target's stock is down about 60% since 2021.

The next Target CEO knows the retailer needs to do better. Here's his 3-part plan to get it back on track.

Incoming Target CEO Michael Fiddelke has been leading the retailer's acceleration effort to combat falling sales. He laid out plans to restore growth.

Target’s in a brand identity crisis. It’s not alone

Now, investors have another wrinkle to consider. On Wednesday, Target replaced its CEO of 11 years, Brian Cornell — a shakeup that was widely expected and likely overdue. Taking his place to steer the brand out of its malaise is … Cornell’s right-hand man.

Target Names New C.E.O. as It Tries to Break Sales Slump

Target on Wednesday named a new chief executive, Michael Fiddelke, the company’s chief operating officer and a 20-year company veteran, who said improving the retail giant’s sputtering finances was “urgent” as he prepared to step into the top job.

Target is in trouble. We visited 3 stores across the US to find out why.

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

What Is New Target CEO's View on DEI? What We Know

Target's new CEO, Michael Fiddelke, has not discussed DEI directly, prioritizing retail logistics over cultural messaging.

‘They don’t remember who they are anymore’: Here’s why Target is falling behind Walmart

Rivals Target and Walmart have long been considered polar opposites. The biggest difference lately, though, is financial performance, underscored by the retailers' earnings reports this week.

How Target lost to Walmart in the online shopping wars

Between the pandemic upending shopping habits five years ago and the economy causing consumers to tighten their purse strings in 2025, it’s been a tumultuous half decade for retailers.

What did earnings from Walmart, Target reveal about tariff-driven price hikes?

In May, McMillon warned of tariff-driven price hikes for a wide range of goods that includes food, toys and electronics. Trump publicly criticized Walmart for saying it would hike prices, calling on the company to “eat the tariffs.”

Target is getting crushed by Walmart. Here are the reasons why.

Walmart held on to its seasonal goods, he said. Target, he said, got caught up in the moment. And while he said it wasn’t the company’s fault at that time, it decided to slash prices. In the process, Target changed its customers’ behavior.
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