Target names longtime insider Michael Fiddelke its next CEO as retailer tries to break sales and stock slump
1. Michael Fiddelke named Target's new CEO, effective February 1. 2. Fiddelke aims to restore sales momentum and enhance customer experience. 3. Target anticipates a low-single-digit sales decline for the year. 4. Shares are down 60% since 2021 due to performance issues. 5. Ending partnerships may further challenge Target's market position.