Target Corporation's stock dip is more about politics than performance. Explore the potential opportunity under new leadership. Click for more on TGT earnings.

Target Corporation (NYSE:TGT) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.

Michael Fiddelke is scheduled to become the next chief executive officer of Target Corp. on Feb. 1, 2026. He is currently chief operating officer of the retailer and will succeed Brian Cornell, who will transition to executive chair of the board of directors.

Target Corporation ( NYSE: TGT) Q2 2025 Earnings Conference Call August 20, 2025 8:00 AM ET Brian C. Cornell - Chairman of the Board & CEO James Lee - Executive VP & CFO John Hulbert - Vice President of Investor Relations Michael J. Fiddelke - Executive VP & COO Richard H. Gomez - Executive VP & Chief Commercial Officer

In addition to announcing its Q2 2025 results, Target also revealed that it would be getting a new CEO. The company announced that its current CEO, Brian Cornell, will be stepping down from the role in February 2026. On February 1, its new CEO, Michael Fiddelke, will take the reins. Cornell has been Target’s CEO since 2014.

Target announced it was replacing CEO Brian Cornell with 20-year company veteran Michael Fiddelke, and shares plunged.

Cornell replaced former CEO Gregg Steinhafel, who stepped down nearly five months after Target disclosed a huge data breach in which hackers stole millions of customers’ credit- and debit-card records. The theft badly damaged the chain’s reputation and profits.

Target Corp. on Wednesday named Michael Fiddelke as its new chief executive, promoting the company veteran who has served as chief operating officer since February. Fiddelke, 49, will succeed Brian Cornell, who led the Minneapolis-based retailer for 11 years through a period of significant growth and recent challenges.

Target, which has about 1,980 US stores, has been the focus of consumer boycotts since late January when it scaled back corporate diversity, equity and inclusion initiatives.

Ulta Beauty and Target Corporation have announced they will not renew their popular shop-in-shop partnership when the current agreement expires in August 2026. The collaboration, which began in 2021, brought prestige beauty products to Target stores and allowed customers to link their Ulta Beauty Rewards with Target Circle accounts.