Michael Fiddelke, the company’s chief operating officer, will take over as chief executive in February as Brian Cornell transitions to executive chair. The announcement comes at a time Target is trying to emerge from multiple quarters of sales declines.

El director general de Target, Brian Cornell, quien ayudó a revitalizar la compañía pero ha tenido dificultades para revertir las

Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back

The retailer is examining its Chicago-area stores to understand how each location is best suited to fulfill online orders, and expects to apply learnings to 40 new markets.

Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.

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