Target needs a hard reset on strategy, Wall Street believes. And new CEO Michael Fiddelke may not be the person to do it.

Activists and customers on the right attacked Target on social media for its LGBTQ-themed merchandise during Pride Month. Target employees faced threats. Misinformation spread on social media that the swimsuits designed for transgender people were marketed to children, which they were not. The company removed them from stores.

Wall Street had hoped the big box retailer would hire someone from outside the company. Target's stock is down about 60% since 2021.

Michael Fiddelke, Target's current chief operating officer, will succeed Brian Cornell as chief executive officer, the company said in a release. Cornell, who has served as the company's CEO since 2014, will step down and Fiddelke will take over the role on Feb. 1, 2026.

ATLANTA - Pastor Jamal Bryant, who spearheaded a boycott against Target, is weighing in after the company’s CEO announced his resignation. Target said Wednesday that Brian Cornell will step down as chief executive amid declining sales. He will be replaced by the company’s chief operating officer.

🍴 Cracker Barrel’s stock tanked after making what change? A. Discontinued its famous hashbrown casserole B. Unveiled a new, controversial logo C. Stopped operations in the South D. Released a very limited fall menu ⬇️ Scroll down for the answer.

The Warby Parker at Target shop-in-shop will offer products and services — including glasses, sunglasses, contacts, eye exams and vision tests. The shops will be staffed by Warby Parker employees. A shop at 201 Sunrise Blvd. in West Whiteland Township, Chester County, near Exton will open on Aug. 30.

By Siddharth Cavale, Juveria Tabassum and Sayantani Ghosh (Reuters) -Target needs a hard reset on strategy, Wall Street believes. And new CEO Michael Fiddelke may not be the person to do it. The retailer has missed the performance mark for many quarters,