NEW YORK – Target has named Chief Operating Officer Michael Fiddelke as its next chief executive officer, replacing CEO Brian Cornell, who will step down Feb. 1 after leading the company for 11 years.

The announcement 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 has struggled to find its footing since inflation caused pinched shoppers to curtail their spending. Customers have complained of messy stores with merchandise that didn’t reflect the expensive-looking but budget-priced niche that earned the retailer the nickname “Tarzhay.”

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