Target's stock dropped about 9% after reporting ongoing declines in sales and customer traffic, which overshadowed a strong earnings performance. The company announced a leadership change with COO Michael Fiddelke set to become CEO, succeeding Brian Cornell who will become executive chair. Fiddelke emphasized priorities like enhancing merchandise style, customer experience, and technology use to boost efficiency. Despite challenges, Target maintains a full-year forecast of modest sales decline and solid earnings per share.