Target Corporation

from Wikipedia, the free encyclopedia
Target Corporation

logo
legal form Corporation
ISIN US87612E1064
founding 1902
Seat Minneapolis , Minnesota , United States
United StatesUnited States 
management Brian C. Cornell ( CEO )
Number of employees 360,000
sales $ 75.36 billion
Branch retail trade
Website www.target.com
As of December 31, 2018

The Target Corporation is one of the largest retailers of the United States and continues to be Wal-Mart 's second-largest discount retailer in the country. The company is headquartered in Minneapolis , Minnesota and is listed on the S&P 500 stock index.

In addition to Wal-Mart, the national competitors include Safeway , Costco , The Kroger Co. , Sears and other retail chains and discounters.

The company was known as Dayton Hudson Corporation until 2000 . The Australian Target branches are owned by Coles Myer .

history

In 1902, George Dayton opened the first department store in the Minneapolis business district. At that time the company was still called the "Dayton Dry Goods Company". In 1911 it was renamed "The Dayton Company".

In 1962 the Dayton Company opened its first discount store .

In 1969 the Dayton Company merged with the JL Hudson Company. In 1978 the Dayton Company bought Mervyn's and in 1990 Marshall Fields was bought.

The Dayton Hudson Corporation changed its name in 2000. More than 75 percent of the company's turnover came from the target shops. In 2001, Target announced that it would continue operating the Dayton's and Hudson's branches under the name Marshall Fields.

On March 10, 2004, Target announced that it had hired the Goldman Sachs Group to analyze whether the Marshall Fields and Mervyn's branches could be sold. Three months later, on June 9, Target sold Marshall Fields to May Department Stores Company, based in St. Louis , Missouri . The sale was made on July 31, 2004. On July 21, 2004, Target announced that it would sell Mervyn's to an investment consortium to set up Sun Capital Partners , Inc., Cerberus Capital Management LP, and Lubert-Adler / Klaff and Partners, LP. The sale ended on September 2nd.

Today Target operates three formats: Target, Target Greatland and SuperTarget.

International expansion

On January 13, 2011, the company announced that it wanted to expand abroad. The first branches were opened in Canada in March 2013 , and 124 stores were planned there by the end of the year. On January 15, 2015, Target Canada was granted bankruptcy protection by the Companies' Creditors Arrangement Act . Target Corporation had to write off $ 5.1 billion .

Theft of customer data

At the end of 2013, hackers succeeded in gaining access to a total of over 100 million customer data, including customer card and credit card numbers, card verification codes, PIN, postal and e-mail addresses, telephone numbers and more. As a result, Target's Chief Information Officer left in March 2014, and on May 5, 2014, Target announced the resignation of CEO Gregg Steinhafel.

Target stores

Target store near Chicago.

Target Stores is a division of Target Corporation. The discount chain has been in the United States 1,792 stores in 50 states and the District of Columbia.

The first proper target opened in Roseville , Minnesota , in 1962 . This market was demolished on January 8, 2005 to make way for a SuperTarget.

Target tries to bring trend products and a differentiated range onto the market. You describe yourself as a “cheap department store” in order not to be just a discounter.

The "target logo " ( English target , "target") is one of the most recognized logos in the United States.

Many of Target's biggest fans often call Target "Tar-zhay" (pronounced in a pseudo- French accent ). This is indicative of Target's middle class clientele.

In Australia , Target is a low-cost department store under the same logo. This target has 150 branches. The Australian trademark is owned by Coles Myer and is not part of Target Corporation USA. Target itself has no branches outside of the United States and Canada.

Target and the Salvation Army

Target has a longstanding partnership with the Salvation Army. In 2011 the company reported that in the past two years, USD 250,000 had been donated during the Christmas season and supported the Salvation Army with a total of USD 13.6 million over a five-year period.

Target has a standard rule of not advertising at its department stores. An exception was made for the Salvation Army for a long time . However, this exception was revoked in 2004 in order to be consistent in its dealings with other charities.

Web links

Commons : Target Corporation  - Collection of images, videos, and audio files

Individual evidence

  1. ↑ a b Target 2018 Annual report , accessed April 21, 2019
  2. ↑ Annual Report 2018: There the number of employees is given as around 380,000, this number also includes part-time and seasonal workers , accessed on April 21, 2020
  3. ↑ a b Target through the years , at www.corporate.target.com , accessed October 23, 2016
  4. ^ The last days of Target Canada , at www.canadianbusiness.com , accessed October 23, 2016
  5. ↑ a b c Target 2015 Annual Report , accessed April 21, 2019
  6. ↑ Target CEO out as data breach fallout goes on . USA Today, May 5, 2014
  7. ↑ Target and the Salvation Army, on Target Homepage , accessed April 21, 2020
  8. ↑ Target to give Salvation Army $ 1 million but won't allow ringers, in Los Angeles Times on November 16, 2006 , accessed April 21, 2020