Target's next CEO finds a bold solution to alarming sales declines

Core Insights - Target has experienced a decline in sales and foot traffic, leading to financial challenges and a tarnished reputation [2][3][4] - The company is undergoing leadership changes, with COO Michael Fiddelke set to become CEO in February 2026, focusing on revitalizing the brand [5] Sales Performance - In Q2 of fiscal 2025, Target reported a nearly 1% decline in net sales year-over-year, with comparable sales falling almost 2% [3] - Significant drops were noted in the Apparel & Accessories and Household Essentials categories [3] Customer Traffic - Foot traffic has decreased by 5.3% during Target Circle Week compared to the previous year, indicating a slowdown in customer visits [4] Strategic Initiatives - Michael Fiddelke's strategy includes returning to Target's roots by offering stylish, affordable products and leveraging technology for a consistent customer experience [5] - The company plans to introduce 20,000 new items in Q4, doubling the previous year's offerings, as part of its strategy for the holiday season [6]