Target selects Fiddelke as CEO

Target taps its longtime COO Michael Fiddelke to lead the company as it battles slower sales and stronger rivals.

Target appoints Michael Fiddelke as CEO amid sales slump

Target said Chief Operating Officer Michael Fiddelke will become CEO on February 1, replacing Brian Cornell. Fiddelke, who has spent two decades at Target, has led a broad overhaul of the supply chain, expanded stores and digital services, and pushed faster decision making. The company also reported weak quarterly results, with a 21 percent drop in net income for the period ending August 2 and a 1.9 percent dip in comparable sales, while market share shifted toward Walmart and other retailers.

The leadership move surprised some analysts, who expected an external hire to lead a turnaround. Fiddelke cited three priorities: restore merchandising authority, improve the shopping experience with consistently stocked shelves and clean stores, and invest in technology across stores and the supply network. Target's branding remains under pressure as critics note a drift away from its once-defined niche of affordable yet stylish items, a dynamic that has contributed to customer defections toward rivals.

The move signals a desire for continuity rather than a full strategic reset. Keeping leadership inside Target suggests confidence in the current team, but it also raises questions about whether deeper cultural issues—like slow decision making and inward focus—will be addressed. If Fiddelke cannot translate his three priorities into faster product cycles and stronger in-store execution, the company may keep losing ground to Walmart and fast-fashion rivals.

Longer term, Target must prove it can blend price competitiveness with trend-aware assortments. Restoring momentum will require not just better shelves but a sharper, cheaper lineup and a clearer private-label strategy to counter competitors. The leadership change is important, but the bigger test is whether the organization can turn strategy into real, measurable improvements in the shopping experience.

Highlights

The road to revival will be measured in months, not headlines.