On his shopping list come Feb. 1, new Target CEO Michael Fiddelke faces a multitude of challenges from making its offer clearer to unwinding the damage from DEI missteps.

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

Michael Fiddelke is scheduled to become the next chief executive officer of Target Corp. on Feb. 1, 2026. He is currently chief operating officer of the retailer and will succeed Brian Cornell, who will transition to executive chair of the board of directors.

Target's Q2 earnings beat estimates, but profitability remains under pressure with declining margins and net income down over 20%. Click for my TGT update.

Target Corporation TGT reported second-quarter fiscal 2025 results, with revenues and earnings declining from the prior-year period. The top line surpassed the Zacks Consensus Estimate, while the bottom line fell short.