Now, investors have another wrinkle to consider. On Wednesday, Target replaced its CEO of 11 years, Brian Cornell — a shakeup that was widely expected and likely overdue. Taking his place to steer the brand out of its malaise is … Cornell’s right-hand man.

Target analysts are expecting mixed results when the retailer reports earnings on Wednesday. Business Insider visited stores to see why.

Target also lost ground with competitors. Chief Commercial Officer Rick Gomez said on Target's earnings call in May that the retailer held or gained market share in 15 of its 35 merchandise divisions in the first quarter. Put another way, it lost ground in the majority of categories that it sells.

Walmart is reporting higher profits and sales as it pulls in shoppers seeking low prices for groceries and other essentials.

Fiddelke acknowledged many of these problems on Wednesday, saying Target was “urgently adjusting” to tariffs and changing consumer needs, embracing technology to automate manual work, and working to mend problems like slow decision-making, siloed internal goals, and a lack of access to quality data that would drive better inventory planning.

The retailer is in a brand identity crisis, CNN’s Allison Morrow writes. While it’s easy to get lost in Target’s recent handling of American culture war narratives, the root of the problems runs deep. Is it possible to come back from this ?