Michael Fiddelke new Target CEO, earnings down, stock down
Target names insider, and former intern, Michael Fiddelke as new CEO, who take over on February 1, 2026 the position of Brian Cornell, who led Target since 2014. Target stock dropped 9 percent in premarket trading Wednesday morning, August 20, 2025, and was down -10.87 (-10.31%) at Market Open. Second quarter earnings at Target were higher than estimates, but earnings dropped 20.2 percent from 2024. "Under Cornell, Target went all in on DEI, most infamously in its Pride celebrations, a corporate marketing and sales effort that targeted the LBGTQ+ community. Nothing wrong with that – unless you do it in a way that spoils the shopping experience of most of your customers. Those are mainly working class people who just want to buy Target’s low-priced goods and didn’t want the company to proselytize to them about gender fluidity – particularly when they show up to a store with their kids." -- Charles Gasparino on New York Post Target names insider Michael Fiddelke new CEO, succee...