By ANNE D’INNOCENZIO, AP Business Writer

NEW YORK (AP) — Target is counting on a company veteran to revive its magic as it struggles to compete with rivals like Walmart.

The Minneapolis-based retailer said Wednesday that Chief Operating Officer Michael Fiddelke, who has been with Target for 20 years, will become CEO Feb. 1.

He succeeds Brian Cornell, who helped reenergize the company when he took the helm in 2014 but has struggled to turn around weak sales in a more competitive retail landscape since the COVID pandemic.

Brian Cornell, Chairman of the Board and CEO of Target, speaks at a financial community meeting, Tuesday, March 5, 2019, in New York. (AP Photo/Mark Lennihan)

Fiddelke has overhauled Target’s supply network and expanded the company’s stores and digital services while c

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