The U.S. grocery retailer Target is embarking on a strategic shift after a difficult first semester. With 19.6% of online sales and three-quarters from non-food products, the US's third-largest grocer is changing governance. For new C.E.O. Michael Fiddelke, monetising digital activities and reviving core business categories are at the top of the priority list.
On August 20, 2025, Target (H1 2025 revenue: US$49.06 billion, down 2.8% on a comparable basis) appointed Michael Fiddelke, the current Chief Operating Officer, as the new C.E.O. from February 1, 2026. He has been with the group for 20 years. He succeeds Brian Cornell, who has held the position for 11 years and will become Executive Chairman.
In the quarter ended August 2, 2025, Target’s comparable sales fell 1.9% to US$25.21 billion, following a 3.8% decline in the first quarter of 2025....
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