On the call, Fiddelke outlined a three-part plan for Target to reclaim profitable growth. First, he said that Target had to "reestablish" its merchandising presence through unique

Target needs a hard reset on strategy, Wall Street believes. And new CEO Michael Fiddelke may not be the person to do it.

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.

Investors are panning Target Corp's choice of insider Michael Fiddelke as chief executive officer (CEO) on Wednesday, viewing the 20-year company veteran as unlikely to fix the retailer's myriad issues that have resulted in years of stock-market underperformance.

Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant, the company said on Wednesday. In recent years, Target has suffered sluggish sales as the company weathered consumer boycotts over its Pride collection and a rollback of its diversity, equity and inclusion policies.

Activists and customers on the right attacked Target on social media for its LGBTQ-themed merchandise during Pride Month. Target employees faced threats. Misinformation spread on social media that the swimsuits designed for transgender people were marketed to children, which they were not. The company removed them from stores.

The Warby Parker at Target shop-in-shop will offer products and services — including glasses, sunglasses, contacts, eye exams and vision tests. The shops will be staffed by Warby Parker employees. A shop at 201 Sunrise Blvd. in West Whiteland Township, Chester County, near Exton will open on Aug. 30.

US retail giant Target has appointed a new chief executive as it struggles to reverse a decline in sales and its share price. The leadership change comes as rising prices and uncertainty over the knock-on effects of US tariffs have raised concerns over the impact on consumer spending,