Target Shakes Up Its Top Ranks and Bets on a Storefront Revival. The Stock Drops.

Core Viewpoint - Target's stock has declined following significant management changes, with a focus on revitalizing its storefront strategy under new CEO Michael Fiddelke [1] Group 1: Management Changes - Michael Fiddelke has been appointed as the new CEO of Target, taking on the challenge of restoring investor confidence and executing a turnaround strategy [1] - Cara Sylvester has been named the chief merchandising officer, indicating a shift in leadership aimed at enhancing product offerings and customer experience [1] Group 2: Market Reaction - The stock drop reflects Wall Street's skepticism regarding the ability of an internal candidate to lead a substantial transformation within the company [1] - Investors are closely monitoring the effectiveness of the new leadership in addressing the company's challenges and improving performance [1]