Core Viewpoint - Target's Q2 performance exceeded expectations, but the stock price fell sharply due to disappointment over the internal CEO succession plan, with Michael Fiddelke set to take over in February 2024 [1][2]. Financial Performance - Target reported Q2 revenue of $25.2 billion, a year-over-year decline of 0.9%, which was better than the market expectation of $24.9 billion [2]. - Net profit decreased to $935 million, with earnings per share at $2.05, slightly above the expected $2.03 but down from $1.19 billion and $2.57 per share in the same quarter last year [2]. - The company reaffirmed its full-year guidance, expecting low single-digit percentage declines in sales and adjusted earnings per share between $7 and $9 [3]. Leadership Transition - Michael Fiddelke, currently COO, will become CEO in February 2024, with a focus on revitalizing sales and regaining market share lost to competitors like Walmart and Amazon [1][4]. - Fiddelke's previous roles included CFO and COO, giving him extensive experience across various business areas [4]. Market Challenges - Despite improvements in sales across six product categories, consumer spending remains cautious, impacting overall performance [3]. - The company faces challenges from new U.S. tariff policies, which have a more significant impact on Target compared to competitors like Walmart [5]. - Target is expanding its supplier base to mitigate tariff impacts, with price increases being a last resort [6]. Customer Trends - Store traffic has been declining since late January, with a 1.3% drop in customer transactions and a 0.6% decrease in average transaction value compared to the previous year [6]. - Online same-store sales showed a positive growth of 4.3% year-over-year, indicating a shift in consumer purchasing behavior [6]. Non-Retail Growth - Target's non-retail revenue grew by 14.2% year-over-year, driven by advertising, membership programs, and third-party transactions [7]. - Fiddelke noted that retail sales improved from Q1 to Q2, although still in negative growth, with all major product categories showing improvement [7].

Our top corporate story today, Target, the retailer rolling out CEO succession plans along with its quarterly results. Right now, those stock that stock is down by about 10%. Courtney Reagan's here and she's got more on this story.Clerk, good morning. Good morning. It's good to see you all.So, Target CEO succession getting more attention than its results this morning. After more than 11 years of CEO, Brian Cornell will transition to executive chairman at the end of the fiscal year. So, February 1st, current ...

Leadership Change - Target's new CEO is tasked with turnaround 2.0 [1] Industry Focus - The article discusses Target's turnaround strategy [1]

Target CEO Brian Cornell will step down from the role in February. The retailer said its Board of Directors unanimously picked COO Michael Fiddelke, a 20-year veteran at Target, as Cornell's successor. The announcement was made alongside Target's Q2 2025 earnings release, where the company reported a 0.9% drop in sales compared to the same three-month period last year. After the announcement and earnings report, the company's shares slid more than 10.5% to $94.2 in premarket trading Wednesday. Target CEO Br ...

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美国零售巨头塔吉特周三公布的二季度业绩虽超出华尔街预期，但可比销售额和客流量持续下滑的困境 依然未解。 受业绩表现和CEO换帅消息影响，塔吉特股价盘前暴跌超10%，凸显投资者对这家明尼阿波利斯零售商 重回增长轨道能力的担忧。公司股价较2021年底历史高点已累计下跌约60%。 面对重重挑战，塔吉特维持全年盈利指引不变 尽管销售额超出市场预期，塔吉特利润率仍面临压力，二季度净利润从去年同期的11.9亿美元降至9.35 亿美元。 降价促销率上升、采购订单取消成本增加，以及消费者更多购买利润率较低的电子产品和玩具等硬线商 品，都对盈利能力构成挑战。 塔吉特维持全年调整后每股收益7-9美元的预期不变，该预测已在今年5月下调。公司预计全年销售额将 出现低个位数百分比下降。 塔吉特二季度净销售额达252.1亿美元，超出市场预估的249.3亿美元，经调整后每股收益2.05美元，高 于预期的2.01美元。尽管如此，公司可比销售额同比下降1.9%，客户交易量减少1.3%。 公司同时宣布现任首席运营官Michael Fiddelke将于明年2月接任CEO一职。 境和周到的客户服务。 面对约一半商品依赖进口的现状，更高的关税威胁进一 ...

Target CEO Brian Cornell Will Step Down As Sales Continue To Fallhttps://t.co/TRwtiS36PY https://t.co/AwSZDyutNa ...

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targets. Brian Cornell will be leaving the CEO position after leading the retail giant for the last 11 years. The company's current COO is going to be taking on that top job.That stock down by about 9.6% this morning. The company also announcing earnings this morning that were a little better than had been expected. But joining us right now to talk about all of it is former PVH chairman and CEO Manny Charo.He's now LNK partner and BCI Brands chairman. And Manny, you've been in this business for a long time. ...

Q2 2025 Performance & Outlook - Target's net sales decreased by 0.9% [1] - Comparable sales decreased by 1.9% [1] - GAAP and Adjusted EPS reached $2.05 [1] - Digital comparable sales increased by 4.3% [1] Growth Drivers - Same-day services grew by more than 25% [5] - Ship-to-guest services grew by more than 7% [5] - Trading cards are tracking to become a more-than-$1 billion business for Target in 2025 [15] - Double-digit net sales growth was achieved in Roundel and Target Plus marketplace [16] Investments & Strategy - The company is on track to invest about $4 billion in 2025 to support new stores, remodels, and enhancements in supply chain and technology [21] - The company is investing in 10,000+ new GenAI licenses [25]