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Target

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  • 1. Target Corporation Lauren Huston Tracy Wang Dylan Anderson Mitch Craig Tai Nirundonpruk
  • 2. Timeline… <ul><li>1902 - George Dayton constructed a six-story building in downtown Minneapolis and convinced R.S. Goodfellow Company to move its Goodfellows department store into it. The store&apos;s owner, Reuben Simon Goodfellow, retired and sold his interest in the store to George Dayton </li></ul><ul><li>1903 - The store changed its name to the Dayton Dry Goods Company </li></ul><ul><li>1910 - Changed its name again to the Dayton Company </li></ul><ul><li>1962 - The Dayton Company, using a concept developed by John F. Geisse, entered discount merchandising by opening its first Target discount store in Roseville, Minnesota </li></ul><ul><li>1965 - It reported its first gain with sales reaching $39 million, allowing a fifth store to open in Minneapolis. </li></ul><ul><li>1967 - The Dayton Corporation was established and it went public with its first offering of common stock, and it opened two more Target stores in Minnesota resulting in a total of nine units </li></ul><ul><li>1968 - Target changed its bulls eye logo to the one currently in use </li></ul><ul><li>1972 - Target reported its first decrease in profits since its initial years, as a result of the chain&apos;s rapid expansion and the top executives&apos; lack of experience in discount retailing </li></ul><ul><li>1989 - It expanded by 60 units, especially in the Southeastern United States where it entered Florida, Georgia, North Carolina, and South Carolina to a total of 399 units in 30 states with $7.51 billion in sales </li></ul>
  • 3. … timeline Continued… <ul><li>1995 - Target Stores opened its first SuperTarget hypermarket in Omaha, Nebraska. Its store count increased to 670 with $15.7 billion in sales </li></ul><ul><li>1996 - Expanded to 736 units with $17.8 billion in sales </li></ul><ul><li>1997 - Both of the Everyday Hero stores were closed. Target&apos;s store count rose to 796 units, and sales rose to $20.2 billion </li></ul><ul><li>2000 - Dayton Hudson Corporation changed its name to Target Corporation and its ticker symbol to TGT; by then, between 75 percent and 80 percent of the corporation&apos;s total sales and earnings came from Target Stores while the other four chains—Dayton&apos;s, Hudson&apos;s, Marshall Field&apos;s, and Mervyns—were used to fuel the growth of the discount chain, which expanded to 977 stores in 46 states and sales reached $29.7 billion by the end of the year. </li></ul><ul><li>2001 - It announced that its Dayton&apos;s and Hudson&apos;s stores would operate under the Marshall Field&apos;s brand, which was the most recognizable name in the Department Stores Division. Target Stores expanded into Maine, reaching 1053 units in 47 states and $33.0 billion in sales </li></ul><ul><li>2005 - Target began operation in Bangalore, India, and these operations currently support all Target business units. </li></ul><ul><li>Today - Target Corporation has its headquarters on Nicollet Mall in Minneapolis, near the site of the original Goodfellows store. It operates its main retail subsidiary, Target Stores, under the banner of &apos;Target ’ </li></ul>
  • 4. Hierarchy <ul><li>CEO and Chairman: Robert J. Ulrich </li></ul><ul><li>President: Gregg W. Steinhafel </li></ul><ul><li>CFO and Executive VP: Douglas A. Scovanner </li></ul><ul><li>CIO and Executive VP of Tech Services: Janet M. Schalk </li></ul>
  • 5. Financial Facts Sales: $59.49 Billion Assets: $37.349 Billion Liabilities: $21.716 Billion Net Worth: $15.633 Billion Earnings: $2.787 Billion Employees: 352,000
  • 6. Recent News from Target: Sales reported from November 3, 2007, stated that sales rose 9.7% from $4.054 billion to $4.445 billion. This shows that Target is growing, and the forecasters say that Target will continue to grow.
  • 7. Competitors <ul><li>***Target is number 2 behind Wal-Mart in discount chain*** </li></ul>Other Department Stores
  • 8. Target Corporation Products <ul><li>Apparel </li></ul><ul><li>House wares </li></ul><ul><li>Electronics </li></ul><ul><li>Toys </li></ul><ul><li>Entertainment </li></ul><ul><li>Sports products </li></ul><ul><li>An assortment of food items </li></ul>
  • 9. Shop Online at http:// www.target.com
  • 10. Slogan <ul><li>Target. Expect More. Pay less. Don’t stop living in the RED </li></ul>

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