Target has named Michael Fiddelke as its new CEO, a strategic move as the retailer struggles with declining sales and stock prices. Here’s what you need to know:

• Leadership Change: Michael Fiddelke, a longtime insider, steps up as CEO.
• Sales Slump: Target aims to reverse a troubling trend in sales and stock performance.
• Market Reactions: The appointment comes amid criticism and shifting customer preferences.

Here's the full scoop.