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As Target announces a new CEO, the retailer is reporting declines in revenue and operating income. As shares tumble 10% their DEI pullback & tariffs are dragging on sales

Shares in Target sank after the retailer reported its 11th straight quarter of flat or falling sales, and said Chief Operating Officer Michael Fiddelke will become its next chief executive. Target stock dropped more than 10% in premarket trading,

The stock market dipped on Wednesday, driven by a decline in tech stocks and Target announcing the appointment of a new CEO

Target's choice to name insider Michael Fiddelke as its new CEO in an effort to turn around the struggling retailer was met with a negative reaction from the stock market, as investors viewed the 20-year company veteran as unlikely to fix the company's myriad issues.

S hares of Target Corp. slumped 10.5% in premarket trading Wednesday, after the discount retailer said it was replacing for Chief Executive Brian Cornell, who has been in charge for the past 11 years, with current Chief Operating Officer Michael Fiddelke, effective Feb. 1, 2026.

Target shares dropped as more details emerge about the retailer's profits. This comes as Walmart and The Home Depot prepare to report their quarter earnings. Akin Oyedele, a deputy editor at Business Insider,

The home-improvement retailer boosted its annual outlook, fueling a mode

In 2025, Walmart has been a clear outperformer, up 12%, while Target has slumped 22%. Technicians tend not to believe too much in mean reversion, because once trends are in motion, they are more likely to remain in place rather than reverse. Expect this dynamic to continue.