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When Target's new CEO Michael Fiddelke steps into the role in early February, he will inherit a company facing slumping sales, faltering customer loyalty and skeptical investors.

Its fiscal second-quarter results posted Wednesday illustrated the big-box retailer's key challenges. Sales fell again from the year-ago period. Customer traffic declined. And shoppers spent less on average during their trips to Target's website and stores than a year ago.

Fiddelke, announced Wednesday as Target CEO Brian Cornell's successor, will soon lead the retailer's comeback efforts and will have to show he can revitalize a company where he has spent about two decades. On an earnings call Wednesday, he acknowledged Target is fal

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