Michael Fiddelke, the company’s chief operating officer, will take over as chief executive in February as Brian Cornell transitions to executive chair. The announcement comes at a time Target is trying to emerge from multiple quarters of sales declines.

The news that Target CEO Brian Cornell, pioneer of the US retail bellwether’s re-invention as an omni-channel force to be reckoned with in an age of Amazonian paranoia, has shaken Wall Street, but it’s perhaps also indicative of how far the firm has recently fallen?

El director general de Target, Brian Cornell, quien ayudó a revitalizar la compañía pero ha tenido dificultades para revertir las

Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back

The retailer is examining its Chicago-area stores to understand how each location is best suited to fulfill online orders, and expects to apply learnings to 40 new markets.

Target named insider Michael Fiddelke on Wednesday as its new CEO in an effort to turn around the struggling retailer after a series of challenges over recent years that caused its shares to vastly lag those of its peers.