Retail conglomerate Target has posted its Q2 earnings amid a leadership reshuffle, showing stagnation in performance across its financial metrics, as per press releases by the company. Alongside the earnings update, the company announced the hire of Michael Fiddelke as the new CEO of the company, who will join on February 1st, 2026.
Target’s current CEO is Brian Cornell
The current CEO of the company is Brian Cornell, who will be transitioning to the role of executive chair of the board of directors. He remained bullish on the retail brand’s prospects in his comments, saying that the new change in leadership will drive positive growth for the company.
“With the board’s unanimous decision to appoint Michael Fiddelke as Target’s next CEO, I want to express my full confidence in his leadership and focus on driving improved results and sustainable growth. He’s contributed meaningfully during times of change and played a critical role in establishing the differentiated capabilities that will continue to drive Target forward. Michael brings a deep understanding of our business and a genuine commitment to accelerating our progress,” said Cornell.
Also read: Trump to sign order opening way for alternative assets in 401(k)s, official says
Fiddelke has worked for Target for 20 years with leadership roles in merchandising, finance, operations, and human resources according to the announcement.
Sales for the quarter were $25.2 billion, down by 0.9$ from Q2 2024. Operating income was $1.3 billion. The company paid $116 million in interest expenses.
Source: Google Finance