Michael Fiddelke, the newly minted chief executive officer of Target Corp., is looking to make the most out of some recent momentum. 

The discounter said sales and traffic trends accelerated in December and January — and while it wasn’t enough to save the top line from a fourth-quarter decline, adjusted earnings did beat expectations.

Sales slipped 1.5 percent to $30.5 billion for the quarter ended Jan. 31, with comparable sales down 3.9 percent in stores and up 1.9 percent online. 

Net income declined 5.2 percent to $1.05 billion while adjusted operating income was up slightly from a year earlier at $1.5 billion. Adjusted earnings per share were in line with the company’s expectations at $2.44 — and were 28 cents ahead of the $2.16 analysts projected, according to Yahoo Finance.  

Fiddelke, who took the reins last month when Brian Cornell became executive chairman, said in a statement: “Our team is firmly focused on writing Target’s next chapter of growth, rooted in strengthening our merchandising authority, delivering an elevated and differentiated shopping experience, advancing our use of technology, and continuing to serve and invest in our team and communities.

“Target saw a healthy, positive sales increase in February, serving as an important milestone on our path back to growth this year, and reinforcing my confidence in the momentum we’re building and the future we’re creating together,” he said.

The retailer has been working to get its mojo back for some time and, under Fiddelke’s direction, has started to lean in more to its reputation as the mass merchant with style. Target, for instance, revamped its SoHo location in New York as a concept store putting fashion front and center.

One of the problems is that its larger competitors Amazon and Walmart Inc. are both doing the same thing. Walmart in particular has had its foot on the accelerator, revamping its stores, sharpening its fashion presentation and expanding its online marketplace.  

But Target is one of the few retailers with the scale to even really attempt to contend with those giants. 

The nearly 2,000-door retailer saw sales dip 1.7 percent to $104.8 billion last year with a 2.6 percent decrease in comparable sales. 

Fiddelke plans to turn that around this year.

Target projected sales would grow “around 2 percent” this year, including “a small increase in comparable sales, with new store and non-merchandise sales contributing more than 1 percentage point of growth.”

And adjusted earnings were forecast for $7.50 to $8.50 a share — encompassing the $7.64 Wall Street had penciled in.

Fiddelke will lay out more about just what Target is aiming for when he addresses analysts at an investor conference on Tuesday.