Target (Target Corporation) is a U.S. retailing company with the headquarters in Minneapolis, Minnesota. Target is the second largest American chain of discount stores (Walmart is the first one).
It was started as Dayton Dry Goods. Target was launched as Dayton Hudson Corporation’s division, and later became Target Corporation. Since 2011, Target locations work also in Canada.
Target Corporation has several subsidiaries: Financial and Retail Services (branded credit cards), Target Sourcing Services (merchandise locating), Target Commercial Interiors (design services), Target Brands (private label goods), and Target.com (e-commerce business).
Target Corp. is included in the Fortune 500 list (the 38th position). It is present in the S&P 500 index.
Target discount stores are usually more than 100,000 square feet. They carry all types of clothing and shoes, beauty and health products, jewelry, electronics, DVDs and CDs, sporting goods, automotive, hardware and kitchen supplies, seasonal merchandise, etc.
As a rule, Target locations also have Target Café, Target Photo, Starbucks Coffee, Target Pharmacy and Pizza Hut Express.
Target Corporation owns different types of special stores: PFresh (general merchandise store), Target Greatland (superstores), SuperTarget (hypermarkets), CityTarget (new concept locations), and Urban stores (stores in various city centers).
Landmarks in the History of Target
The list below provides brief information about the main events in the history of Target Corporation.
- 1902 – George Dayton builds the six-story office in Minneapolis, which becomes the head office of Goodfellow Company.
- 1903 – Goodfellow Company changes it name to Dayton Dry Goods.
- 1911 – Dayton Dry Goods is renamed Dayton Company.
- 1916 – The Dayton enters Retail Research Association.
- 1918 – George Dayton organizes The Dayton Foundation. Now it is known as Target Foundation.
- 1920 – Dayton Company starts using airplanes for transporting merchandise across the United States.
- 1922 – The Dayton introduces WBAH Radio.
- 1938 – George Dayton becomes president of the company.
- 1946 – Dayton Company starts giving five percent of profits to the community.
- 1950 – Donald Dayton takes the position of the company’s president.
- 1953 – Dayton Company launches commercial interiors departments.
- 1954 – The company opens its first location outside Minneapolis. It was set up in Rochester, Minn.
- 1956 – The Dayton establishes Southdale Mall, which is the first American enclosed shopping center.
- 1960 – The company enters discount retailing business.
- 1961 – The Dayton officially announces its organization of a new chain of discount stores.
- 1962 – The first Target location is opened in Roseville, Minn.
- 1966 – Target launches its first retail store in Denver.
- 1969 – The first distributions center of Target Company is established in Fridley, Minn.
- 1969 – Dayton Corporation merges with Hudson Company of Detroit. The new company is called Dayton-Hudson Corporation.
- 1974 – Target introduces its planograms.
- 1975 – Target retail stores become the number one revenue producers in Dayton-Hudson Corporation.
- 1975 – The company starts weekly newspaper advertising.
- 1978 – The corporation acquires Mervyn’s of California.
- 1979 – Target Stores achieves one billion dollars in annual sales. It celebrates the event by organizing its first Billion Dollar Sale.
- 1983 – The first Target locations are opened in Southern California.
- 1988 – Target enters the Pacific Northwestern market.
- 1988 – The company introduces UPC scanning at its retail stores.
- 1989 – New Target locations are set up in Florida, South Carolina, North Carolina, Georgia, Tennessee, and Kentucky.
- 1990 – Dayton-Hudson Corp. acquires Marshall Field’s.
- 1993 – The company opens eleven locations in Chicago.
- 1995 – Target starts offering credit cards.
- 1995 – The 1st SuperTarget store is introduced.
- 1998 – The corporation buys Associated Merchandising Corporation.
- 1999 – Target.com is launched, and Target begins to sell GiftCards.
- 2000 – Dayton-Hudson Corp. becomes Target Corp.
- 2001 – Target owns one thousand stores in forty eight states.
- 2003 – Red Hot Shop is introduced to public.
- 2004 – The corporation sells Mervyn’s and Marshall Field’s.
- 2005 – Target’s annual sales exceed fifty billion dollars.
- 2007 – Target launches its Check Card.
- 2008 – The first Target location is set up in Alaska.
- 2009 – The company opens its stores in Hawaii.
- 2011 – Target comes to Canada.
- 2012 – The 1st CityTarget is opened.
Today, Target Corporation owns more than 1,760 retail stores in all the U.S. states, except Vermont, and Canada. Gregg Steinhaffel is the company’s CEO, president and chairman. In 2012, Target’s revenue was over ,8 billion. The corporation has about 365,000 regular employees.
The company’s official website, Target.com, provides a number of convenient services, useful information about Target, etc.
Enter ZIP Code To Find Your Local Target Store.