Target Corporation has released the transcript of its third-quarter 2025 earnings conference call, held on November 19, 2025. The event brought together key members of Target's leadership, including Chairman and Chief Executive Officer Brian Cornell, Chief Operating Officer Michael Fiddelke, Chief Commercial Officer Rick Gomez, and Chief Financial Officer Jim Lee, alongside several analysts from major financial institutions. During the call, management reflected on the company's performance and future direction. Brian Cornell, in what he noted as his final earnings call as CEO, highlighted the significant changes and achievements at Target during his tenure, stating, "It's been the highlight of my career to lead this great company, and our business has undergone many important changes since I arrived in 2014." Michael Fiddelke, Chief Operating Officer, acknowledged the results met expectations but emphasized the company's commitment to improvement, saying, "We're far from satisfied with our current results, and we won't be satisfied until we're operating at our full potential." He outlined three key priorities: solidifying Target's design-led merchandising, leading with unique products, and positioning the company for sustainable, profitable growth. The full transcript can be accessed through the link below.