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TarGet - 8th-largest retailer in the United States, and is a component of the S&P 500 Index.

TarGet - 8th largest retailer in the United States,


Target Corporation is the 8th-largest retailer in the United States, and is a component of the S&P 500 Index.[4] Founded by George Dayton and headquartered in Minneapolis, the company was originally named Goodfellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton'sHudson'sMarshall Field's, and Mervyn's. It is unrelated to Target Australia.

Target Plaza, cropped.JPG
Target established itself as the day time division of the Dayton-Hudson Corporation in the 1970s; it began expanding the store nationwide in the 1980s and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry.[5] The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004. It suffered from a massive and highly publicized security breach of customer credit card data and the failure of its short-lived Target Canada subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States. As of February 2nd, 2019, Target operates 1,844[2] stores throughout the United States. The company is ranked No. 39 on the 2018 Fortune 500 list of the largest United States corporations by total revenue.[6] Their retail formats include the discount store Target, the hypermarket SuperTarget, and "small-format" stores previously named CityTarget and TargetExpress before being consolidated under the Target branding. Target is often recognized for its emphasis on "the needs of its younger, image-conscious shoppers", whereas its rival Walmart more heavily relies on its strategy of "always low prices".[7]




Formerly
  • Goodfellow Dry Goods
  • (1902–1903)
  • Dayton's Dry Goods Company
  • (1903–1910)
  • Dayton Company
  • (1910–1962)
  • Dayton Corporation
  • (1962–1969)
  • Dayton-Hudson Corporation
  • (1969–2000)
Public
Traded as
ISINUS87612E1064 Edit this on Wikidata
IndustryRetail
FoundedJune 24, 1902; 117 years ago (corporation)
January 5, 1962; 58 years ago (store)
FoundersGeorge Dayton (corporation)
John Geisse (store)
HeadquartersTarget Plaza, 1000 Nicollet Mall
Minneapolis, Minnesota, United States
Number of locations
  • Increase 1,868 stores
  • (FY 2019)
[1]
Area served
United States
Key people
ProductsBeauty and health products; bedding; clothing and accessories; electronics; food; furniture; jewelry; lawn and garden; pet supplies; shoes; small appliances; toys/games.
Revenue
  • Increase US$75.356 billion
  • (FY 2019)
  • Decrease US$4.11 billion
  • (FY 2019)
  • Increase US$2.937 billion
  • (FY 2019)
Total assets
  • Increase US$41.29 billion
  • (FY 2019)
Total equity
  • Decrease US$11.297 billion
  • (FY 2019)
Number of employees
  • ~360,000
  • (FY 2019)
SubsidiariesTarget Brands, Inc.
Target Capital Corporation
Target Enterprise, Inc.
Target General Merchandise, Inc.
Shipt
Website



The Westminster Presbyterian Church in downtown Minneapolis burned down during the Panic of 1893. Without insurance coverage to cover the financial loss, the congregation found itself unable to rebuild. The church appealed to parishioner George Dayton to purchase an empty corner lot adjacent to the original church in its possession; funds raised from the property sale allowed the church to rebuild and Dayton constructed a six-story building on his newly purchased property.[8]
Dayton convinced the Reuben Simon Goodfellow Company to move its nearby Goodfellows department store into the newly erected building in 1902, although its owner retired altogether and sold his interest in the store to Dayton.[9] The store was renamed the Dayton Dry Goods Company in 1903, and was shortened to the Dayton Company in 1910.[8] The company made its first expansion with the acquisition of the Minneapolis-based jeweler J.B. Hudson & Son right before the Wall Street Crash of 1929; its jewelry store operated in a net loss during the Great Depression, but its department store weathered the economic crisis. Dayton died in 1938 and was succeeded by his son Nelson as the president of the $14 million business.[8] Nelson died in 1950 and was replaced by his own son Donald, who with his cousins replaced the Presbyterian guidelines set by his predecessors with a more secular approach. The company acquired the Lipman's department store company during the 1950s and operated it as a separate division

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