Target Corporation (NYSE:TGT) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.

Target CEO Brian Cornell is stepping down after 11 years at the retailer, as the company faces slumping sales and backlash to its retreat on DEI.

Explore Target Corporation's financial health and strategy: strong credit quality, CEO transition in 2026, and an attractive 4.3% dividend. Click for my TGT update.

Michael Fiddelke is scheduled to become the next chief executive officer of Target Corp. on Feb. 1, 2026. He is currently chief operating officer of the retailer and will succeed Brian Cornell, who will transition to executive chair of the board of directors.

Michael Fiddelke is scheduled to become the next chief executive officer of Target Corp. on Feb. 1, 2026. He is currently chief operating officer of the retailer and will succeed Brian Cornell, who will transition to executive chair of the board of directors.

Shares of Target Corp. tumbled in morning trading Wednesday, after the discount retailer said it was replacing Chief Executive Brian Cornell with current Chief Operating Officer Michael Fiddelke — a move some analysts said lacked the “pop” of an outside hire and implied little change in strategy for now.

Michael Fiddelke is scheduled to become the next chief executive officer of Target Corp. on Feb. 1, 2026. He is currently chief operating officer of the retailer and will succeed Brian Cornell, who will transition to executive chair of the board of directors.

Target Corporation ( NYSE: TGT) Q2 2025 Earnings Conference Call August 20, 2025 8:00 AM ET Brian C. Cornell - Chairman of the Board & CEO James Lee - Executive VP & CFO John Hulbert - Vice President of Investor Relations Michael J. Fiddelke - Executive VP & COO Richard H. Gomez - Executive VP & Chief Commercial Officer