The news the retail industry has been anticipating for months was finally announced on Wednesday: Target CEO Brian Cornell is finally stepping down after 11 years at the helm and will be replaced by his operations chief Michael Fiddelke in February.

Activists and customers on the right attacked Target on social media for its LGBTQ-themed merchandise during Pride Month. Target employees faced threats. Misinformation spread on social media that the swimsuits designed for transgender people were marketed to children, which they were not. The company removed them from stores.

Companies like Nike and Target are helmed by veterans who got their start at the companies decades ago.

Shares in Target sank after the retailer reported its 11th straight quarter of flat or falling sales, and said Chief Operating Officer Michael Fiddelke will become its next chief executive. Target stock dropped more than 10% in premarket trading,

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

Chinese regulators are pushing back against US AI chips, Target shares fell more than 6 per cent after the retail group picked an insider to be its new chief executive, and UK inflation accelerated more than expected to 3.8 per cent in July. Plus, China is making a big push for vehicle battery swapping.

Target will report fiscal second-quarter earnings before the bell on Wednesday, as investors look for signs that the struggling discounter is getting back on track. Here's what Wall Street expects for the company's most recent three-month period, according to a survey of analysts by LSEG:

I’m a longtime Target shopper, and I found cozy fall home décor for under $30, including wood candlesticks, framed art, and realistic stems. These warm, neutral finds instantly made my space feel more