In addition to announcing its Q2 2025 results, Target also revealed that it would be getting a new CEO. The company announced that its current CEO, Brian Cornell, will be stepping down from the role in February 2026. On February 1, its new CEO, Michael Fiddelke, will take the reins. Cornell has been Target’s CEO since 2014.

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,

Target Corporation's stock dip is more about politics than performance. Explore the potential opportunity under new leadership. Click for more on TGT earnings.

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

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 stock plunges 10% as the company names new CEO, forecast repeated, and investors doubt retail turnaround.

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.

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.