Michael Fiddelke, the incoming CEO of Target, is taking over a company facing declining sales, faltering customer loyalty, and skeptical investors. In his first earnings call as CEO, Fiddelke acknowledged the challenges and outlined priorities including refreshing merchandise and improving the shopper experience.
Target’s market value has fallen from $129 billion in 2021 to about $45 billion, reflecting investor concerns. Fiddelke, a 49-year-old veteran of the company with over two decades of experience, aims to revitalize the business by winning back investors’ confidence and shoppers’ trust.
The new CEO will have to convince customers that Target can recapture its former magic, including clean stores, friendly staff, and exclusive merchandise. Fiddelke plans to make changes, including revamping its home goods category and overhauling its hardlines category.
Target’s annual sales have been roughly flat for the past four years, and customer traffic declined in the recent fiscal second-quarter results. However, Fiddelke notes that the company has made progress in some areas, such as improving its beauty sales through partnerships with Ulta.
Fiddelke’s success will depend on restoring the identity of a retailer that loyal customers know and love. If successful, there is significant upside for the company. With his background and experience, Fiddelke is well-positioned to lead Target’s comeback efforts and make the necessary changes to win back investors’ confidence and shoppers’ trust.
Source: https://www.cnbc.com/2025/08/20/new-target-ceo-michael-fiddelke-faces-challenges.html