US EditionIncoming Target Corp. CEO Michael Fiddelke Tasked with Restoring Growth to Retailer
Michael Fiddelke, a 20-year Target veteran, aims to drive growth and efficiency amid challenges including slumping sales and backlash over diversity policy changes, analysts say.
- On Wednesday, Target tapped longtime insider Michael Fiddelke as CEO, with shares dropping 7%; he will begin Feb. 1, 2026, replacing Brian Cornell who becomes executive chair.
- Wall Street investors had expected an outside executive to lead Target amid slumping sales and backlash from DEI policy changes over the past year.
- The company's quarterly figures showed Target's second-quarter net sales hit $25.21 billion with EPS of $2.05 amid falling sales and transactions; Michael Fiddelke said, `While technology is at the core of all our operations today, it will need to play an even stronger role going forward.`
- The market reaction has cut Target's value from $129 billion in 2021 to about $45 billion on Wednesday, with more than $13 billion lost amid a steep selloff and shares among the S&P 500's worst performers this year.
- Target projects a low-single-digit sales decline this fiscal year and plans about $4 billion in capital expenditures to invest in stores, supply chain, and technology.
52 Articles
52 Articles
Leftists rejoice at Target CEO's ouster after he walked back retail giant's DEI policies · American Wire News
Leftists are taking a victory lap over the CEO of Target stepping down, but their boycott is a tiny blurb in the bigger picture. Brian Cornell was expected to step down following years of slacking sales, but will remain as Target’s executive chairman while its current chief operating officer, Michael Fiddelke, steps in as CEO. “Target has been in a deep slump for years, a result largely of its own strategic missteps,” reported CNN. Bloated inven…
Target’s new CEO has to fix these three things, and one of them is—yes, really—DEI
The Target brand—once one of the most enviable in retail—is in tatters. The 50-year-old company is battling rising prices, disorganized and sometimes understocked stores, and a consumer boycott over its sudden retreat from DEI under the Trump Administration. That’s why Target raised eyebrows when it announced that Michael Fiddelke—who has been at the company for two decades, most recently as COO—is taking the top job, replacing current CEO Brian…
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