Newly appointed Target CEO Michael Fiddelke inherits a 50% stock decline and four straight quarters of declining customer traffic.
Target’s newly appointed CEO, Michael Fiddelke, takes over as the retailer grapples with a 50% stock decline from its pandemic highs. The company has reported four consecutive quarters of declining customer traffic and thinning margins, signaling deeper operational challenges.
Fiddelke, a 20-year company veteran who started as a summer intern, replaced Brian Cornell in February 2025. His appointment in August 2025 was met with skepticism from analysts, who questioned whether an internal hire could address entrenched issues like groupthink and an inward-focused strategy.
Investors and analysts remain cautious, with some doubting Fiddelke’s ability to reverse the retailer’s downward trajectory. The stock’s performance and customer trends will be closely watched as he implements changes.