While Target’s (NYSE: TGT) FQ2 2026 results show some improvements, the company continues to lag its peers, lose market share, and contract its business. Moreover, the choice of the new CEO did not boost market optimism. Yes, Cornell is out, and COO Michael Fiddelke is in, and the market did not like it.
The takeaway from the chatter is that Fiddelke has had ample opportunity as COO to positively impact the turnaround, and an outsider would have been a better choice. The stock fell more than 10% on the news, confirming resistance at a critical level within an existing bear market.
