Target Corporation Lauren Huston Tracy Wang Dylan Anderson Mitch Craig Tai Nirundonpruk
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'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's rapid expansion and the top executives' 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>
… 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'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's total sales and earnings came from Target Stores while the other four chains—Dayton's, Hudson's, Marshall Field'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's and Hudson's stores would operate under the Marshall Field'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 'Target ’ </li></ul>
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>
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.
Competitors <ul><li>***Target is number 2 behind Wal-Mart in discount chain*** </li></ul>Other Department Stores