Target Stores Customer
Everyone has at least seen or is able to recognize the famous bulls-eye logo, which is the logo associated with Target stores. With the motto Expect More, Pay Less, Target suggests that customers can expect more of everything, at more reasonable prices. Target stores have become the United States second largest discount chain only behind the conglomerate that we know as Wal-Mart. Target has been long known for offering merchandise and brand names that are aimed at a more upscale shopper than Wal-Mart.
Target also has been known to reach a younger customer with higher incomes than most of its competitors. Target continues to grow as a business and a leader within the retail industry. Along with growing and being successful in this line of business, the Target Corporation will need to deal with competition, management issues, buyouts, mergers and other financial issues.
The famous red bulls-eye logo did not just pop up over night to become one of the nations largest retail chains. A gentleman by the name of George Dayton opened his first store named Goodfellows in downtown Minneapolis in 1902 and changed the name to Dayton Dry Goods Company the following year. In 1910, George Dayton decided to change the now succeeding business to The Dayton Company. In 1962, The Dayton Company launched a new store called Target in Roseville, Minnesota just north of St. Paul. Over the next few decades after launching its Target retail store, Dayton Company was envolved in one merger and two buyouts. In 1969, the Dayton company merged with the J.L Hudson Company, a major retail department store chain based in Detroit. In 1978, the company acquired Mervyn's, a department store chain based in Hayward, California. In 1990, the company acquired Marshall Field's, an iconic Chicago, Illinois, department store. Dayton Hudson Corporation changed its name to Target Corporation in 2000; by then, more than 75 percent of the corporation's revenue came from the Target division. In 2001, Target Corporation announced that its Dayton's and Hudson's stores would operate under the Marshall Field's brand. The three brands had been operating as a single unit, the Department Store Division. On March 10, 2004, Target Corporation announced it had hired Goldman Sachs Group to analyze options for selling its Marshall Field's and Mervyn's chains of department stores. Three months later, on June 9, 2004, Target Corporation announced its sale of the Marshall Field's chain and several Mervyn's stores to St. Louis, Missouri-based May Department Stores Company, which became effective July 31, 2004. On July 21, 2004, it announced the sale of Mervyn's to an investment consortium including Sun Capital Partners, Inc., Cerberus Capital Management, L.P., Lubert-Adler/ Klaff and Partners, L.P., which was finalized September 2.
Target Corporation (Target) operates general merchandise and food discount stores in the United States, which include Target and SuperTarget stores. The Company offers both everyday essentials and fashionable differentiated merchandise. Target's credit card operations represent an integral component of its core retail business. The Company also operates a fully integrated online business, Target.com. It operates Target general merchandise stores with a range of general merchandise and a limited assortment of food items, as well as SuperTarget stores with a line of food and general merchandise items. Target.com offers a range of general merchandise, including many items found in its stores and a complementary assortment, such as extended sizes and colors, sold only online. As of February 2, 2008, the Company had 1,591 retail stores. As of May 3, 2008, Target opened 26 new stores, including 14 general merchandise stores and eight SuperTarget stores. (NY Times)
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