Forbes

Target Names New CEO As Sales Drop

Daily Mail

Wall Street stunned as boss of one of America's biggest retailers quits amid sales slump

PBS NewsHour

Target CEO Brian Cornell to step down as company struggles with poor sales numbers

New York Post

Target CEO Brian Cornell steps down after 10 years as retailer fights to reverse sliding sales

Targets CEO is stepping down as customers turn away

Guardian

Target CEO steps down as company faces weak sales and customer boycott

Target announced on Wednesday that Chief Executive Officer (CEO) Brian Cornell will step down on February 1, 2026, after 11 years leading the Minneapolis-based retailer, with Chief Operating Officer (COO) Michael Fiddelke chosen to succeed him.

Fox Business

Target announced on Wednesday that Chief Executive Officer (CEO) Brian Cornell will step down on February 1, 2026, after 11 years leading the Minneapolis-based retailer, with Chief Operating Officer (COO) Michael Fiddelke chosen to succeed him.

The announcement follows dwindling sales figures for the company, with Target reporting net sales of $25.2 billion in Q2 2025, a 0.9% decline compared to Q2 2024. Comparable sales, in the meantime, fell by 1.9% and net income by 19.4% to $1.3 billion over the same period.

Target

The announcement follows dwindling sales figures for the company, with Target reporting net sales of $25.2 billion in Q2 2025, a 0.9% decline compared to Q2 2024. Comparable sales, in the meantime, fell by 1.9% and net income by 19.4% to $1.3 billion over the same period.

In the longer run, Target has experienced flat or declining comparable sales in nine out of the past 11 quarters. The last quarter, however, did see a marginal improvement over Q1 2025 across all six core merchandising categories, with net sales rising by almost 2%.

The Associated Press

In the longer run, Target has experienced flat or declining comparable sales in nine out of the past 11 quarters. The last quarter, however, did see a marginal improvement over Q1 2025 across all six core merchandising categories, with net sales rising by almost 2%.

Target stated that the decision to replace Cornell with Fiddelke was unanimous, and that the pair would work together over the transition period until Fiddelke assumed the position of CEO and joined the Board of Directors.

Target stated that the decision to replace Cornell with Fiddelke was unanimous, and that the pair would work together over the transition period until Fiddelke assumed the position of CEO and joined the Board of Directors.

Cornell, meanwhile, will transition into the role of Executive Chair of the Board of Directors, additionally effective February 1. Target will make a separate announcement regarding the company's next COO at a later date.

Cornell, meanwhile, will transition into the role of Executive Chair of the Board of Directors, additionally effective February 1. Target will make a separate announcement regarding the company's next COO at a later date.

Target's stock price dropped by more than 6% in trading following the release of the company's CEO announcement and earnings report, with shares down 23.20% since the start of 2025, excluding Wednesday's premarket decline.

Google Finance

Target's stock price dropped by more than 6% in trading following the release of the company's CEO announcement and earnings report, with shares down 23.20% since the start of 2025, excluding Wednesday's premarket decline.

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Forbes #2560

Target's leadership change represents necessary evolution rather than crisis management. Fiddelke brings deep institutional knowledge and proven track record of operational excellence, having delivered billions in efficiencies while modernizing supply chains and digital capabilities. His insider perspective provides continuity during challenging market conditions, and the company showed encouraging signs of recovery with improved traffic trends and strong digital growth exceeding 4%.

Target's leadership change represents necessary evolution rather than crisis management. Fiddelke brings deep institutional knowledge and proven track record of operational excellence, having delivered billions in efficiencies while modernizing supply chains and digital capabilities. His insider perspective provides continuity during challenging market conditions, and the company showed encouraging signs of recovery with improved traffic trends and strong digital growth exceeding 4%.

Target Appoints Michael Fiddelke As Chief Executive Officer

This internal appointment reflects Target's failure to acknowledge the severity of its problems and need for fresh leadership. The company has lost its merchandising edge, alienated core customers through DEI policy reversals, and watched sales decline for three straight quarters while competitors like Walmart gained market share. Promoting from within perpetuates the same strategic thinking that created these challenges.

This internal appointment reflects Target's failure to acknowledge the severity of its problems and need for fresh leadership. The company has lost its merchandising edge, alienated core customers through DEI policy reversals, and watched sales decline for three straight quarters while competitors like Walmart gained market share. Promoting from within perpetuates the same strategic thinking that created these challenges.

Daily Mail #3204

Target CEO Steps Down Amid Sales Decline and DEI Backlash

United States of America

Money

Target's choice of CEO is a wise choice for the company. Fiddelke brings deep institutional knowledge and a proven track record of operational excellence at Target, particularly concerning corporate efficiencies. When combined with his unique insider perspective, this will provide continuity for Target during this challenging time in the market.

Target's choice of CEO is a wise choice for the company. Fiddelke brings deep institutional knowledge and a proven track record of operational excellence at Target, particularly concerning corporate efficiencies. When combined with his unique insider perspective, this will provide continuity for Target during this challenging time in the market.

Fiddelke's internal appointment reflects Target's failure to acknowledge the severity of its problems. Target has lost its merchandising edge, alienated its core customers, and watched its sales figures continually decline; yet instead of seeking outside inspiration, it has chosen to promote the same strategic thinking that initially created these challenges.

Fiddelke's internal appointment reflects Target's failure to acknowledge the severity of its problems. Target has lost its merchandising edge, alienated its core customers, and watched its sales figures continually decline; yet instead of seeking outside inspiration, it has chosen to promote the same strategic thinking that initially created these challenges.

Target CEO Steps Down Amid Sales Decline and DEI Backlash

Target CEO Steps Down Amid Sales Decline and DEI Backlash

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Target CEO Steps Down Amid Sales Decline and DEI Backlash

Target CEO Steps Down Amid Sales Decline and DEI Backlash

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