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The retailer, which operates nearly 2,000 stores nationwide, has blamed consumer spending amid economic uncertainty and tariffs.
Target announced Wednesday that longtime Chief Executive Brian Cornell will step down next year, as the retailer deals with sales declines and stacking controversies from both sides of the political aisle. Chief Operating Officer Michael Fiddelke has been named as his successor, reports CNN.
Cornell took over in 2014 and was credited with bringing life to the brand a decade ago, but has struggled in recent years as Target faced drops in revenues in the post-pandemic economy. In the first quarter of 2025, sales fell more sharply, and executives have warned that the downward trend is likely to continue through the end of the year.
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