Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back

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.

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

NEW YORK (AP) — Target named an insider as its next chief executive officer Wednesday, a decision that comes as the discount retailer tries to reverse a persistent sales malaise and to revive its reputation as the place to go for affordable but stylish products.

Minneapolis-based Target said CEO Brian Cornell, who has led the company for 11 years, would step down on Feb. 1.

Chinese regulators are pushing back against US AI chips, Target shares fell more than 6 per cent after the retail group picked an insider to be its new chief executive, and UK inflation accelerated more than expected to 3.8 per cent in July. Plus, China is making a big push for vehicle battery swapping.

“The stock price reflects that there won’t be change when change is needed,” Gerald Storch, former vice chairman of Target and ex-CEO of Toys R Us, told The Post. “The sales are negative and they are bleeding market share.” Target did not immediately respond to The Post’s request for comment.