Target’s Lower Outlook Signals Tough Path for Incoming CEO

Target Corp.’s lengthy slump persisted in the third quarter, underscoring the numerous obstacles the big-box retailer’s incoming chief executive officer faces — from intense competition to a weakening economy.

Chief Operating Officer Michael Fiddelke, who will take over the top job in February, is looking to recapture Target’s lost fun factor — and with it, sales growth — in part with friendlier staff and merchandise that better captures current trends.