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Target (company)

Target (company)

Target is a United States-based retail company founded by George Dayton.

Target Corporation (doing business as Target and stylized as target), is an American big box department store chain headquartered in Minneapolis, Minnesota. It is the eighth largest retailer in the United States, and a component of the S&P 500 Index. Target established itself as the discount division of the Dayton's Company of Minneapolis in 1962. It began expanding the store nationwide in the 1980s (as part of the Dayton-Hudson Corporation), 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. The parent company was renamed Target Corporation in 2000, and divested itself of its last department store chains in 2004. It suffered from a massive, 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.

Timeline

March 14, 2021
Target on 1249 Simpson Avenue in Salt Lake City, Utah opened, which replaced an old Nordstrom Rack that moved into a building that used to be a Toys R Us at the Sugarhouse Shopping Centre that closed in 2016.
July 2020
Target joined other major retailers in requiring all customers to wear masks in its U.S. stores.
March 13, 2020
Brian Cornell (CEO) took part in Former President Trump's address on the COVID-19 pandemic. Target, along with competitors Walmart, CVS Pharmacy, and Walgreens, would take part in using their stores for testing of COVID-19.
September 2019
Target announced its new rewards program, Target Circle, would be coming to all Target stores on October 6, 2019. In conjunction, the name of the store's credit and debit card was announced to be changed from "Target REDcard" to "Target RedCard." At its debut, Target Circle allows for shoppers to earn 1% back in rewards to use on a future purchase, except when a Target RedCard is used. Target RedCard holders continue to save an instant 5% on their total but now earn votes from a purchase with Target Circle to use on deciding where Target gives its 5% back in the community. The Target Circle rewards program does not use a physical card, but can be used by presenting the Target Wallet in the Target App or by entering a mobile phone number at checkout.
August 25, 2019
Target and The Walt Disney Company announced a partnership to have a Disney Store in several Target locations. The Disney Store at Target locations have a "shop-in-shop" layout with an average square feet of 750.
May 2018
According to YouGov ratings was Target determined to be the most popular department store in America. Target was rated 69% positive opinions by America, and 99% of people have heard of it. Women had a 74% positive opinion towards Target and men had 65%.
February 2018
Target announced that it would shift its sales model for compact discs, DVDs, and Blu-ray Discs to provide them solely on a contingency basis, citing reduced physical media sales in favor of digital downloads and streaming.
December 2017
Target announced the corporation's intention to purchase Shipt, an internet-based grocery delivery service for a reported $550 million. The acquisition is intended to help same-day delivery and to better compete with Amazon.
October 19, 2017
Target announced that they will be opening a small-format store and their first store in Vermont in the University Mall in South Burlington in October 2018. The store replaced the former Bon-Ton (originally Almy's and later Steinbach), which closed in January 2018.
October 2, 2017
Target announced a new online order service, known as Drive Up, which allows guests to order merchandise online for pickup outside the store. Guests hit the 'I'm on My Way' button when they are en route to their store. They pull into designated parking spots out front, and soon a Target team member comes out to greet them with their order.

Products

Patents

Further Resources

Title
Author
Link
Type
Date

Target - Why They're Successful

Web

December 1, 2021

Target CEO Brian Cornell on building a culture that helps the company thrive

Web

January 17, 2022

Target CEO on earnings, full-year guidance and price increases

Web

March 1, 2022

Target Corp Company Profile - Overview

Web

Target Corporation - Company Profile, Information, Business Description, History, Background Information on Target Corporation

Web

News

Title
Author
Date
Publisher
Description
Reuters
October 7, 2021
CTVNews
Big retailers have hired their own ships to bypass log-jammed ports and secure scarce ship space at a time when COVID-19, as well as U.S.-China trade ructions, equipment shortages and extreme weather, have exposed the fragility of the globe-spanning supply lines we use for everything from food and fashion to drinks and diapers.
September 21, 2021
The Economic Times
Fixed income investors unnerved by the volatility in interest rates and looking for predictable returns with low credit risk in debt mutual funds could opt for target maturity schemes, said investment advisors.
By The Associated Press
August 18, 2021
AP NEWS
___Fed discussed pulling back on bond purchases later this yearWASHINGTON (AP) -- Federal Reserve officials last month discussed the timing for beginning to dial back their extraordinary support for the U.S.
August 15, 2021
Gaming Intel - Esports & Video Games News
Here's everything we know about upcoming PS5 restocks at GameStop, Walmart, Target, Best Buy, & more in the week running August 16-22.
Matt Swider
August 14, 2021
TechRadar India
The PS5 restock situation has improved dramatically in the US, according to our restock exper. Stores like Walmart and Best Buy had lots of stock this week.
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References

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