Target has named an insider as its next chief executive officer. The announced on Wednesday comes as the discount retailer tries to reverse a persistent sales malaise and to revive its reputation as the place to go for affordable but stylish products.

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

Executive Editor Brian Sozzi joins Ramzan Karmali on Market Sunrise to talk about the major earnings calls coming up this week, including Target (TGT), Home Depot (HD) and Walmart (WMT).

After 11 years in the role, Cornell will leave his post at the beginning of next year, per CNN, CNBC and AP. He will be replaced by Michael Fiddelke, Target’s current chief operating officer, on Feb. 1, 2026. Fiddelke has been with the company for 20 years and started as an intern.

Longtime Target leader Brian Cornell exits as CEO; Michael Fiddelke steps in with a turnaround strategy to revive sales and restore growth.

Target's stock is down, and Walmart's stock is up. Do you buy the stock performance winner or the loser of this matchup?

Several big-box U.S. retailers are reporting second-quarter earnings this week, offering a glimpse into the spending habits of consumers and the continued impact of President Trump’s trade war. Here a

While Target has seen a steady decline in same-store visits for roughly the past 18 months, Walmart has made gains in that area. Foot traffic is not a be-all, end-all metric because both of these chains are omnichannel retailers,