What Is Target Corporation? Where is Target located? Who Owns Target Corporation? Everything You Need to Know About Target Corporation We routinely utilize a company’s goods but are ignorant of where they were developed, much as few people are aware of where Target Company was started. You’re all aware of the reasons for this, and in this case, shoppers are learning about the product as well as the brand’s history.
Target Corporation, headquartered in Minneapolis, Minnesota, is an American big-box department store chain. It is the country’s eighth-largest retailer and a component of the S&P 500 Index. Target was founded in 1962 as the discount division of the Dayton’s Company of Minneapolis.
What Is Target Corporation?
Target is a general goods retailer having locations in each of the 50 United States and the District of Columbia. a large American department store business based in Minneapolis, Minnesota It is the country’s eighth-largest retailer and a component of the S&P 500 Index.
Their retail formats include the discount shop Target, the hypermarket SuperTarget, and “small-format” stores that were previously known as CityTarget and TargetExpress before being merged under the Target brand.
Who Owns Target Corporation?| Who Is The CEO Of Target Corporation?
Brian Cornell Owns Target Corporation
Brian C. Cornell is an entrepreneur from the United States. The Target Corporation’s Chairman and Chief Executive Officer (CEO) is Cornell. He is also Yum! Brands’ non-executive chairman.
Where is Target located?
You can Find The Target Store Here Using the Target Store Locator, you can quickly find a Target store near you.
Who Founded Target Corporation?
George Dayton Founded Target Corporation
George Draper Dayton was an American philanthropist and businessman best known for founding Dayton’s department store, which later became Target Corporation.
What Type Of Corporation Is Target?
Target is a national general merchandise retailer with locations in all 50 states and the District of Columbia. “Expect More. Pay Less,” says our tagline. It’s been in use since 1994! Shipt and Roundel are also owned by the Target Corporation.
How Much Is Target Corporation Worth?
Target has a net worth of 14.44 billion dollars. The simplest net worth equation is total assets minus total liabilities, which yields this figure. This net worth has grown over the last three years, with comparable figures of $11.83 billion in 2020 and $11.30 billion in 2019.
How Big Is Target Corporation?
Target has 1,926 stores across the United States and is ranked 37th on the Fortune 500 list of the largest corporations in the United States by total revenue in 2020.
When Did The Target Corporation Begin?
In the year 1902, at Minneapolis, Minnesota, United States Target Corporation Begin
Who Supplies The Target Corporation?
Target-branded products are sourced from more than 3,696 registered manufacturing facilities in more than 49 countries, all of which must adhere to our labor and environmental standards.
What is Target well known for?
Target is best known for selling household essentials, home decor, groceries (including beverages, dry perishables, fresh, and frozen foods), electronics, appliances, apparel, and baby products (such as toys).
Target is known for its addictive shopping experience, with customers joking that they went into the store to buy one thing but ended up buying a lot more.
What does the Target company do?
Target Corporation (Target) is a general merchandise retailer that sells products both in-store and online. Its general merchandise stores have a carefully curated food selection, which includes perishables, dry groceries, dairy, and frozen foods.
What is Target’s business strategy?
Target’s strategy is to provide an assortment that is tailored to this group’s needs, at a low price, and differentiated and supplemented by a wide range of private-label goods, particularly in the discretionary apparel and home categories.
Why is it called Target?
The name “Target” was suggested by Dayton’s publicity director, Stewart K. Widdess, to avoid consumers associating the new discount store chain with the department store. Douglas Dayton was the company’s first president.
Who Is Target Corporation Customer Base?
As of 2022, Target’s primary customer base is women aged 18 to 44 with an annual income of around $65,000. Although the majority of Target’s customers are white or Caucasian, the retailer has seen a steady increase in Hispanic customers in recent years.
How many countries are Target stores in?
Target stores are in 27 different countries
The company operates over 11,000 stores in 27 countries, including Chile, Mexico, and Guatemala. Given Walmart’s success in breaking into the international market, it stands to reason that its competitors, such as Target, will be able to do so as well.
Target’s SWOT Analysis (2022)
What are Target’s Strengths?
- A Wide Selection of Merchandise
- Positioning of a brand
- Purchases made by customers
- Clothes by a designer
- Collaboration with Starbucks
- Volunteering in the community
- Distribution System That Is Efficient
- Presence in the market
- Inventory Management That Works
- Services for Digital Devices
- Effective E-Commerce Adoption
- Financial expansion that is robust
- Omnichannel Model that is Stable
What are Target’s Weaknesses?
- Customer Data Protection
- There is little international market presence.
- A Store-Centric Strategy
What are Target’s Opportunities?
- Target’s collaboration with CVS
- Small – Format Retailers
- Loyalty Program for REDcard Rewards
- Same-Day Shipping
- Boost Private-Label Brands
- Boost Market Presence
- Renovating a Store
What are Target’s Threat?
- Local Competitors
- Customer Preferences Can Be Modified
- Failure to distinguish
- Economic Downturn Vulnerable
- Low Entry Barrier
- Uncertainties in the Market
- Costs are rising.
Target Corporation History -Timeline
George Draper Dayton, our founder, was born in 1902.
George D. Dayton, a native New Yorker, decides to explore the growing Midwest markets in 1881. Dayton decides that Minneapolis offers the best opportunities for growth after several years in banking and real estate. He buys property on Nicollet Avenue and establishes the Dayton Dry Goods Company, which is now known as Target Corporation.
The new store is shaped by Dayton’s values, including his belief in “the higher ground of stewardship.” His store quickly gains a reputation for dependable merchandise, ethical business practices, and a generous giving spirit. He remains active in the store’s management as President until he died in 1938. His sons and grandsons take over as president and CEO, and the Dayton Company expands to become a national retailer.
Dayton Dry Goods Company was founded in 1902.
A banker and real estate investor named George D. Dayton joins Goodfellow’s Dry Goods Company, Minneapolis’ fourth largest department store. Dayton takes sole ownership of the store the following year, wanting to be more involved, and becomes the first President of the newly named Dayton Dry Goods Company.
Dayton’s Department Store, 1911
Dayton Dry Goods Company is renamed The Dayton Company to better reflect its wide range of goods and services after a decade of rapid growth. Dayton’s department store is the name given to it.
The associated merchandising corporation was founded in 1916.
The Dayton Company joins the Retail Research Association, a group of leading retailers, as a founding member. The Associated Merchandising Corporation is formed in 1918 after the association expands.
1918 was the start of a long tradition of giving.
George D. Dayton establishes The Dayton Foundation with a $1 million endowment and the mission of assisting in the promotion of mankind’s welfare anywhere on the planet. In 1969, it was renamed the Dayton-Hudson Foundation, and in 2000, it was renamed the Target Foundation.
“Success is making ourselves useful in the world, valuable to society, and contributing to raising the level of humanity, so that when we pass away, the world will be a little better for our having lived the brief span of our lives.”
Merchandise Takes Off in 1920
The Dayton Company joins the Retail Research Association, a group of leading merchandise shipments that are halted due to a freight-handlers strike, which prevents goods from being shipped from New York to Minneapolis. Faced with empty shelves and disgruntled customers, Dayton captures America’s imagination by using airplanes to transport goods across the country.
Two Curtiss Northwest Airplane Company planes pick up 400 pounds of merchandise and fly to Minnesota, which was at the time the world’s longest commercial flight. The arriving planes are paraded through Minneapolis’ streets, where throngs of onlookers rush to buy the in-demand goods. This ground-breaking solution paves the way for a new way of transporting goods across the United States.
1922 WBAH Radio is now on the air.
The Dayton Company establishes WBAH Radio, one of only six radio stations in Minneapolis, and the Twin Cities’ first radio broadcast station run by a department store. It is the most powerful in the Midwest at the time. When local broadcasting is heard in England, the station sets an official distance record in less than two months.
In 1938 The Torch is Passed
George N. Dayton succeeds George D. Dayton as President of The Dayton Company after his father’s death.
1946 Investing 5% of your income in your community
The Dayton Company begins a tradition of donating 5% of pre-tax profits to the community. As a result, it becomes only the second American corporation to commit to a set amount of annual giving.
1950 A New Leadership Generation
Following the death of his father, George N. Dayton, Donald C. Dayton, the company’s founder’s grandson, takes over as president, ushering in a new era of leadership. Wallace, George II, Kenneth, Donald, Bruce, and Douglas, the founder’s grandsons, eventually rise to the top of the company.
Commercial Interiors, 1953
Dayton’s opens a commercial interiors department with furnishings, fabrics, and decorations specifically designed for businesses and other public institutions. This highly regarded commercial service, now known as Target Commercial Interiors, provides productive working environments to small, medium, and large businesses across the country.
The First Branch in Dayton was established in 1954.
In March, a full-line Dayton’s opens in Rochester, Minn., marking the company’s first expansion outside of downtown Minneapolis.
1956 Expansion into the Surrounding Areas
The Dayton Company expands to the suburbs of Minneapolis with the opening of Southdale Mall, the nation’s first fully enclosed shopping center, to meet the needs of busy suburban families. When Dayton’s takes the then-unheard-of step of putting top competitors under one roof, Southdale alters the face of retail in the United States. Stores thrive as busy shoppers flock to the mall, and Dayton’s follows suit with three more shopping centers in the Minneapolis/St. Paul metropolitan area over the next 20 years: Brookdale in 1962, Rosedale in 1969, and Ridgedale in 1974.
1960 Dayton’s Spring Has Arrived Early
Dayton’s first Flower Show, inspired by gardens from around the world, opens in March. Eight different gardens were on display for all shoppers to enjoy, ranging from Hawaii to Holland. Winter-weary shoppers got a sneak peek at spring’s vibrant colors and scents at the free annual event.
Discount Retailing Makes Its Debut in 1960
The Dayton Company recognizes an opportunity to develop and introduce a new type of mass-market discount store that caters to value-oriented shoppers seeking a higher-quality experience as it seeks new ways to strengthen relationships with guests. Some industry experts viewed the move toward mass-market retail as risky at the time because it diverges from the company’s dominant position as a department store retailer. The company takes the first step toward transforming itself from a family-run department store chain to one of the nation’s largest discount-store chains by demonstrating visionary leadership.
1961 It’s becoming official.
The Minneapolis Tribune reports on May 9, 1961, that The Dayton Company is planning to open a new discount chain store. Douglas J. Dayton, the store’s new president, says the new store will “combine the best of the fashion world with the best of the discount world, a quality store with quality merchandise at discount prices, and a discount supermarket…75 departments in all,” drawing on the company’s vast department store experience. The new, yet-to-be-named store will be enjoyable, delightful, and welcoming to the entire family. Wide aisles, easy-to-shop displays, quick checkout, and “lots of well-lighted parking…for 1,200 cars” will all be features of the stores.
1962 The Making of an Icon
Former Dayton’s Director of Publicity Stewart K. Widdess is tasked with naming and defining the new retail store months before it opens its doors. Widdess and his team consider over 200 possible names. They come up with “Target” in a burst of red-and-white inspiration and immediately envision a classic Bullseye logo. “As a marksman’s goal is to hit the center bulls-eye,” the reasoning went, “the new store would do much the same in terms of retail goods, services, community commitment, price, value, and overall experience.”
1962 The Beginnings of Target
The news of Target’s first grand opening in Roseville, Minnesota, greets guests in the Twin Cities area on May 1, 1962. Target distinguishes itself from other retail stores by combining many of the best department store features — fashion, quality, and service — with the low prices of a discounter. It is hailed as a “new idea in discount stores.” Target opens additional locations in St. Louis Park, Crystal, and Duluth, Minnesota, by the end of 1962, as “a store you can be proud to shop in, a store you can have confidence in, a store that is fun to shop and exciting to visit.”
Holidays at Dayton’s in 1963
Dayton’s introduces a new holiday auditorium show in 1963, bringing the magic of the holidays and beloved children’s stories to life. Guests stroll through animated vignettes and visit Santa’s workshop at this free event, which has become an annual tradition. Memorable stories like A Christmas Carol, Cinderella, and Harry Potter are brought to life for entire families to enjoy over the next four decades.
1963 Summer’s Pleasures
Dayton’s transforms the entire store into a kaleidoscope of color and activity to commemorate the arrival of summer. A working, old-fashioned ice cream parlor and an outdoor BBQ have been converted from corner window displays. Inside, guests can unwind on park benches near a bubbling fountain or be entertained by an eight-piece band, flower and balloon vendors, fashion shows, and other activities.
1966 In the Denver metro area, Target opens its first stores outside of Minnesota.
1969 A New Collaboration
The Dayton Corporation merges with the Detroit-based J.L. Hudson Company to form the Dayton-Hudson Corporation. Both companies have similar merchandising philosophies and have spent decades focusing on excellent corporate governance. A three-day flower show on Wall Street is part of the celebration of this new partnership. The merger elevates the company to one of the top 15 non-food retailers in the United States.
Volunteers for Earth Day in 1970
Dayton-Hudson Corporation began commemorating Earth Day in the 1970s by giving out pine trees to customers and supporting store employees who volunteer to plant trees and clean parks in Minnesota, Missouri, Texas, Colorado, and Oklahoma.
1973 Providing Assistance
Holiday Helpers, a program started by Jim Simms, a store manager in Moline, Illinois, provides a wonderful holiday shopping experience for our senior and disabled guests by providing personal shopping assistance in a fun, festive environment. The popular event spreads across the country and becomes an annual event in 1974.
Shopping Made Simple in 1974
Target’s commitment to providing guests with a consistent shopping experience at every store, regardless of location, grows with it. Our first planograms were introduced in 1974, and they assist team members in delivering clean, uncluttered, and in-stock merchandise presentations. Planograms are now an important part of our customers’ shopping experience.
The transition of Family Management in 1977
The Dayton family pave the way for new leadership in the 1950s. They adopt philosophies that encourage advancement and place organizational success as a top priority, recognizing the need for superior managerial talent to succeed in a competitive retail environment. By 1978, Donald, Wallace, and Douglas Dayton have relinquished their management positions and have retired.
1979 A Watershed Moment for the Company
Target Stores celebrates a company milestone by holding our first Billion Dollar Sale for guests after reaching $1 billion in annual sales. As Target continues to strive to be the best store in town, the Billion Dollar Sale thanks all Target guests who visit our 74 stores in 11 states.
Involvement in the Community was Recognized in 1983.
President Ronald Reagan bestows the President’s Committee on the Arts & Humanities Medal of Honor on the Dayton-Hudson Foundation for its contributions to the arts and social welfare in the community.
Bruce B. Dayton and Kenneth N. Dayton retire from the Dayton-Hudson Corporation Board of Directors in 1983, bringing an end to 80 years of direct family involvement with the company.
In 1985, Dayton shoppers discover a new arrival in stores on the day after Thanksgiving—a cuddly white plush bear named Santa bear. The first department store doorbuster of its kind, created by senior toy buyer Paul Starkey, is an instant hit. Within three days of its debut in stores, 400,000 bears have found new homes. Santabear’s popularity grows nationwide in the years following its smash debut, thanks to television specials and community events.
Santa bear becomes a must-have collectible item for the holiday season over the next two decades, as he is updated annually with a new outfit and adventure.
Manufacturers begin to test and implement UPC bar-code packaging technology in the mid-1980s. Target is the first mass merchandiser to implement UPC scanning in all of its stores and distribution centers in 1988.
Greater inventory management increased automation, and, most importantly, a shorter check line wait time are all benefits of the revolutionary new technology, which contributes to the evolution of the in-store shopping experience. As a result, guests and team members will have a more efficient and enjoyable shopping experience.
Target will open 30 new stores in Kentucky, Tennessee, Georgia, North Carolina, South Carolina, and Florida on April 30, making it a national retailer with locations across the country. Target partners with country music group The Judds to create TV and print advertisements to promote the new stores, to share our brand experience of Fast, Fun, and Friendly service and quality goods at discounted prices.
1990 Investing in a Legendary Retailer
Marshall Field’s, a legendary Chicago department store founded in 1852, is purchased by Dayton-Hudson Corporation from Batus Inc., the American arm of B.A.T. Industries P.L.C. The acquisition expands the company’s size and scope, establishing Dayton-Hudson as the premier department store chain in the Midwest.
Target Greatland is unveiled in Apple Valley, Minnesota, on September 30, 1990. Greatland is 50% larger than a typical Target store and features numerous enhancements to help guests have a better shopping experience. Wider aisles, faster and more efficient check lines and automatic teller machines are among the new store’s features (ATMs).
More service options, such as Food Avenue, expanded pharmacy and photo services, and electronic information stations with price scanners, are all part of the new store layout. Superior guest service, great in-store design, and fashionable, affordable merchandise are all combined in this innovative superstore.
The Target Guest Card, the first Target store credit card, was introduced in 1995. The Target Visa® Credit Card, the first company credit card to be accepted at major retailers nationwide, was introduced in 2001. The Target Check Card is added to the portfolio of credit products in 2007 after it was renamed REDcards in 2004.
Just in time for the holidays, Snowden, the plush collectible snowman, makes his debut in Target stores. After starring in his first hour-long special with figure skating legends Ekaterina Gordeeva and Scott Hamilton, the collectible snowman plush creates a blizzard of excitement. Every year for the next several years, guests will be able to take home a new Snowden as well as a variety of themed merchandise.
In 1997, St. Jude Children’s Research Hospital, a Memphis, Tenn.-based organization dedicated to treating all patients regardless of their financial ability, announced plans to purchase a hotel to address their long-term housing needs. Target steps in and funds the construction of Target House®, a home-away-from-home for families with children undergoing treatment for chronic illnesses, with the help of generous guests and vendors. Since its inception in 1999, Target House® has welcomed over 1,337 families from 42 states and 36 countries who have found it to be a place of love, support, community, and hope.
2000 The Target Weekly Ad debuts on Target.com for the first time.
Target Stores opened its 1,000th store in July, marking a significant milestone in the company’s history as a national retailer. With a larger selection of style and value in more locations, guests have 1,000 reasons to celebrate. Target is present from coast to coast, with stores in every contiguous state except Vermont.
Target Boat, one of the first-ever Pop-Up stores, will open at Chelsea Pier in New York City in December. By delivering the Target brand in a new, innovative way, the limited-time, and sometimes mobile, store allowed us to foster a deeper relationship with our Manhattan-area guests.
By increasing the availability of grocery products in stores in 2003, Target maintained its position as the ultimate one-stop shopping destination. Target debuts the SuperTarget tagline “Eat Well. Pay Less.” in 2004. This is our commitment to offering a diverse selection of unique, affordable grocery items to complement Target’s hip and fashionable low-priced merchandise.
Target introduces GO International®, an innovative, limited-edition fashion program that offers affordable fashion from emerging designers. Luella Bartley, a British designer, is launching the exciting fashion initiative with a traveling boutique in a classic red London double-decker bus. The mobile boutique will be on the streets of New York for only three days before the new Target collection is available in all stores. The GO International program has featured more than a dozen world-renowned designers since 2006.
On the Hawaiian islands of Oahu and the Big Island, Target opens its first stores. Target embraces Hawaiian culture long before the doors open by participating in a native Hawaiian ceremony to bless the land where the new stores will be built. The store’s atmosphere and merchandise selection cater specifically to Hawaiian visitors, with red Hawaiian shirts and surfboards featuring specially printed red Hawaiian designs.
London’s Liberty Crosses the Pond in 2010
Target has announced a new, limited-time collaboration with British fashion house Liberty of London, just in time for spring. This is the first time a Target collection spans categories such as home and garden to fashion for the entire family. The partnership allows guests to experience Liberty of London’s iconic prints and fashion at affordable prices, building on a century of rich heritage and innovation.
Target has set a goal of donating $1 billion to education by the end of the year. Thanks to innovative education programs and partnerships, such as our Target School Library Makeovers, book donations, and other reading events around the world, we’re on track to meet that goal.
Target purchased 189 Zellers locations across Canada in 2011, and we plan to renovate 125-135 of them to become Target stores in the future. Our list of stores is constantly growing as we prepare to open new locations, so check back frequently for the most up-to-date information on our plans. Because construction is affected by a variety of factors, including the weather, store opening dates are subject to change.
Target has teamed up with the storied department store Neiman Marcus to create a one-of-a-kind holiday collection. Target + Neiman Marcus presents a collection of one-of-a-kind items from 24 of America’s most renowned designers, all of whom are members of the Council of Fashion Designers of America (CFDA). Target and Neiman Marcus will also donate $1 million to the CFDA in addition to the collection, demonstrating the retailers’ long-standing commitment to fostering design talent.
We opened our first stores north of the border in March, marking the culmination of an unprecedented international expansion. Another milestone: with 124 store openings across Canada this year, we have had the most store openings in a single year in our history—even more than in our first ten years! Thousands of team members from all over the world collaborated to bring us into Canada.
With the acquisition of CHEFS Catalog, Cooking.com, and Dermstore.com, Target expands its presence in the growing cooking and beauty markets. These businesses provide our guests with more of what they want—additional products, content, and options—in the areas that matter most to them. We intend to incorporate CHEFS Catalog and Cooking.com into our registry experience, as well as utilize stores as a pickup location for online orders.
In motorsports, sponsors come and go, but Target and Chip Ganassi Racing (TCGR) have been together for 25 seasons, making it one of the most long-running partnerships in the sport’s history. TCGR has crossed many finish lines together over the years, resulting in more than 100 wins and making Target one of the most recognizable brands of victory lane, thanks to a team-centric philosophy and a drive for continuous innovation. Oh, and don’t forget about the team’s ten IndyCar Series championships, four Indianapolis 500 victories, and a trip to the NASCAR Sprint Cup championship race.
Target announced in January that it will close its 133 retail stores in Canada, citing that it is in the best interests of the company and its shareholders to focus on driving growth and building momentum in the United States. “This was a very difficult decision for me, but it was the right decision for our company,” says CEO Brian Cornell. Inventory liquidation efforts are completed by April 12th, and the stores close their doors to the general public.
The packaging for Target’s Market Pantry food brand has been updated. Ideas and feedback from guests are incorporated into a versatile new creative toolkit for the brand, which includes updated colors, fonts, and other visuals, by our in-house designers, merchants, engineers, and marketers. They use it to redesign 1,900+ product packages across 100 categories, making each one visually stand out while remaining consistent with the overall brand look. In February, the new packaging will be available on store shelves.
Target’s senior executives meet with members of Congress and the administration throughout the year to discuss the proposed Border Adjustment Tax (BAT) and its impact on our guests, employees, and business. Americans for Affordable Products, a coalition of 600+ businesses and trade associations opposed to the BAT proposal, is one of our partners. CEO Brian Cornell makes appearances on Capitol Hill and in the media, expressing our support for comprehensive tax reform while also expressing our concerns about BAT’s potential to raise prices for American families.
With the new year comes new leadership to assist us in advancing Target’s strategy. William J. Foudy, Jr., a 25-year sourcing industry veteran, will take over as president of Target Sourcing Services in May.
Dmitri Stockton, a former senior vice president at General Electric, and George S. Barrett, former chairman, and chief executive officer of Cardinal Health, Inc., have joined our board of directors.
|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)|
|Founded||June 24, 1902; 119 years ago (corporation)|
January 5, 1962; 60 years ago (store)
|Founders||George Dayton (Corporation Founder )|
John Geisse (Store Founder)
1000 Nicollet Mall
Minneapolis, Minnesota, U.S.
|Number of Stores||1,926 stores (2021)|
|Area served||United States|
|Key people||Brian C. Cornell (Chairman & CEO)|
|Products||Beauty and Health Products|
Clothing and Accessories
Lawn and Garden
In 1962, the company began as the discount division of the Minneapolis-based Dayton’s Company. Target has 1,926 stores across the United States as of 2021. On the 2020 Fortune 500 list of the largest U.S. corporations by total revenue, it is ranked 37th.
So, after reading the above, I hope Target Corporation is no longer a source of concern for you. In a nutshell, it is a corporation based in the United States. Have you seen our most recent article, Which Country Has the Most Ebay Users?
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