Target Names Michael Fiddelke To Succeed Brian Cornell As CEO

Aug 20 (Reuters) - Target Corp TGT.N:

• TARGET: MICHAEL FIDDELKE TO SUCCEED BRIAN CORNELL AS CEO EFFECTIVE FEB 1, 2026

• TARGET: CORNELL WILL TRANSITION TO ROLE OF EXECUTIVE CHAIR

• TARGET Q2 ADJUSTED EPS $2.05 VERSUS IBES ESTIMATE $2.03

• TARGET Q2 NET SALES $25.21 BILLION VERSUS IBES ESTIMATE $24.93 BILLION

• TARGET Q2 COMP SALES DOWN 1.9%

• TARGET: MAINTAINS FY SALES & GAAP EPS OUTLOOK

• TARGET: ON TRACK TO INVEST $4 BILLION THIS YEAR FOR NEW STORES, REMODELS, SUPPLY CHAIN & TECHNOLOGY ENHANCEMENTS

• TARGET OUTLOOK FY ADJUSTED EPS $7.00 TO $9.00 VERSUS IBES ESTIMATE $7.35