Incoming CEO is writing Target’s next chapter, including largest store overhaul in a decade

Brian Cornell opened Target’s earnings call last week by listing his accomplishments as CEO and taking responsibility for the company’s current woes.

Then, in a pass-the-baton moment, he turned the mic over to his successor, company veteran Michael Fiddelke, who laid out the early details of his turnaround plan: an extra $1 billion to remodel and rearrange stores, revamp merchandise and leverage technology.

Fiddelke’s message on Wednesday was the clearest acknowledgement yet that Target had lost the edge that once prompted cultural nicknames like “Tar-jay” and carried it through storied pandemic-era growth.

“We are confident we are on the right path,” he said.

But the finer details won’t be divulged until March, leaving some analysts wondering if Target is moving quickly enough as Walm