Target shares rocked down 10 percent.

by
  • Target posted fiscal second-quarter earnings and revenue that topped Wall Street’s expectations.
  • The company stuck by its full-year outlook, which forecasts a single percentage point decline in sales.
  • Target named Michael Fiddelke as its new CEO, effective Feb. 1.

Target
beat Wall Street’s earnings and sales expectations and reaffirmed its outlook on Wednesday, even as the company’s sales and traffic across its stores and website declined.

Yet the Minneapolis-based retailer pointed toward the future – and its focus on getting back to growth – by naming its next CEO. Chief Operating Officer Michael Fiddelke, who has also served as Target’s CFO, will step into the role on Feb. 1. He will succeed CEO Brian Cornell, 66, who will become executive chair of Target’s board of directors. Fiddelke is a 20-year Target veteran.

The company’s shares fell about 10% in premarket trading following the results and CEO announcement.

MORE:

https://www.cnbc.com/2025/08/20/target-tgt-q2-2025-earnings.html

 

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