Target Names New CEO: Michael Fiddelke

,‍ and the retailer’s future.Here’s a breakdown of the key details from the text:

New CEO: Target ‍has appointed Michael Fiddelke as its new CEO.
Timing: the announcement was made on the same day target reported its fiscal second-quarter results.
Financial Performance: Target’s quarterly sales and earnings exceeded Wall Street’s expectations, but the company maintains a forecast​ for an annual sales‌ decline.
Challenges ‍and Goals: fiddelke⁢ takes the role as Target seeks to regain momentum and growth after four ⁣years⁣ of flat sales following a surge during the COVID-19 pandemic.
Priorities: ‍ Fiddelke has ⁤outlined ⁣priorities to “rebuild momentum” and improve‌ the‍ company’s⁤ performance.
Stock Reaction: The stock price dropped in premarket ‍trading.

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