On May 1, 1962, guests in the Twin Cities area wake to the news of Target's first grand opening in Roseville, Minn. Heralded as a, "new idea in discount stores," Target differentiates itself from other retail stores by combining many of the best department store features — fashion, quality and service — with the low prices of a discounter. We accelerate our plans to reimagine more than 1,000 stores across the country by the end of 2020 with elements from our next generation of store design to make shopping easier and more inspiring for guests. On April 30, Target opens 30 new stores in Kentucky, Tennessee, Georgia, North Carolina, South Carolina and Florida, becoming a national retailer with stores from coast-to-coast. In July, Target Stores passes a major milestone as a national retailer after opening its 1,000th store. leadership; The Target Corporation also owns Shipt, Roundel, Grand Junction and DermStore. stores. In October, Target unveils eight new sustainability commitments as part of the White House’s Climate Pledge. [11] Dayton-Hudson acquired the Team Electronics specialty chain that was headed by Stephen L. Discover historical prices for TGT stock on Yahoo Finance. 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Penney Offer Rejected By Dayton Hudson", "Target closes Everyday Hero in Mall of America", "MPR Parent Sells Rivertown Trading Co. to Dayton Hudson", "Target may step up NE rollouts; debuts long-awaited e-tail site", https://startribune.newspapers.com/image/250149797/?terms=mervyn%27s&match=1, "Target Corporation Discusses Two Accounting Matters Expected to Impact Fiscal 2004 Results", "Target Corporation Fourth Quarter Earnings Per Share $1.29", "Target closing all garden centers, including 90 in Florida", "Target to Build First Food Distribution Center", "Target says chief information officer resigning", "CVS Health and Target Sign Agreement for CVS Health to Acquire, Rebrand and Operate Target's Pharmacies and Clinics", "Target bets on the smart home with new futuristic 'Open House' lab", "Target attempts to unravel the connected home with new showroom", "Target opens up a new store in San Francisco to try out smart devices", "New Target Store Takes You Inside the Connected Home", "Target admits it missed the mark, but what does it mean for Canadian retail? Taking “live” to an entirely new level, we create Gwen Stefani’s official music video for “Make Me Like You” on live TV. It’s so hot, the collection virtually sells out online and in stores in just a matter of hours. The first collection of spring looks, including feminine prints, dramatic silhouettes and bold accessories, debuts in stores and on Target.com in February, with new pieces rotating in at the beginning of each month. Target got serious about its delivery operations in December of 2017 with the announcement that it was buying Shipt, an online delivery company, for … EQ Shareowner Services As President, he remains active in the store's management until his death in 1938. Target’s signature Market Pantry food brand packaging gets a new look. The program is so well received that Target Subscriptions expands to include nearly 4,000 convenience items like paper towels, coffee K Cups, health, pet, and home office products. Today, Target is … The Target Style campaign launches in February, featuring a series of super-stylish TV spots that run throughout the year, including during big pop culture events like the Saturday Night Live 40th Anniversary Special. On May 1, 1962, the Dayton Company, using Geisse's concepts, opened its first Target discount store located at 1515 West County Road B in the Saint Paul suburb of Roseville, Minnesota. Dayton's celebrates summer by transforming the entire store into a kaleidoscope of color and activity. Over the years, the product line grows to include fragrance, skin care, nail color and innovative cosmetics accessories while never wavering on the principals of un-compromising style, design, quality and value. In addition to an awesome, affordable assortment, we highlight tools like School List Assist and 360-degree shoppable dorm rooms, plus special 15% savings for teachers. Target Corporation is an American retail corporation. In the years following its smash debut, Santabear's popularity spreads nationwide through television specials and community events. Just in time for spring, Target launches a new, limited-time partnership with British fashion house Liberty of London, marking the first time a Target collection spans categories ranging from home and garden to fashion for the entire family. In the spring, we cut the ribbons on the first of our 100 new soccer play spaces built for communities across the country through our $6 million partnership with the U.S. Soccer Foundation. The merger establishes the corporation as one of the 15 largest non-food retailers in the nation. Target, along with competitors Walmart, CVS Pharmacy, and Walgreens, would take part in using their stores for testing of COVID-19. In the spring, we team up with internationally known fashion designer Victoria Beckham on a limited-time apparel and accessories collection for women and kids. Dayton's opens a commercial interiors department specifically tailored to offer furnishings, fabrics and decorations for business and other public institutions. Target Corporation is the fourth largest retailer in the United States, operating 1,556 stores in 47 states. In 2005, Target began operation in Bangalore, India. From an impressive list of more than 500 applications from around the world, Target picks 10 tech-based start-ups to join our first-ever accelerator. The idea to bring Caroline’s Cart to the Bullseye comes from one of our own — a team member with a child who has special needs suggests it to our Store Operations team. We celebrate the 15th anniversary of Target House at St. Jude Children’s Research, with care provided over the years for 4,200 families nationwide. The retailer confirmed that it is working with law enforcement, including the United States Secret Service, "to bring those responsible to justice." Guests tuning into the 58th Annual GRAMMY® Awards catch the groundbreaking campaign during a four-minute commercial break, live from Los Angeles. Some are set to an exclusive track of “Groove is in the Heart” produced by Questlove (The Roots) and vocals by Charli XCX and Black Thought (The Roots). Target's CEO since August 2014 is Brian Cornell. [80] The store replaced the former Bon-Ton (originally Almy's and later Steinbach), which closed in January 2018. Women had a 74% positive opinion towards Target and men had 65%. Target Stores lost money in its initial years but reported its first gain in 1965, with sales reaching $39 million, allowing a fifth store to open in the Minneapolis suburb of Bloomington, Minnesota. [34] Its store count increased to 670 with $15.7 billion in sales. The expedition becomes a world-wide learning tool for environmental and scientific issues of Antarctica as classrooms across the country learn about the unique ecosystem and wildlife of the frozen continent through classroom activities, workshops and televised specials. When the War Production Board initiated its scrap metal drives, Dayton donated the electric sign on the department store to the local scrap metal heap. Target redesigns an icon of consumer culture: the shopping cart. The first Target store credit card, known as the Target Guest Card, launches in 1995. In December, we announce the fourth year of our Target +Techstars retail accelerator program with news that it’s going global, in partnership with Germany-based METRO AG, one of the world’s largest wholesalers and food specialists. [86][87] Tru Kids and Target also announced a partnership on October 8, 2019, to relaunch the website of Toys "R" Us Toysrus.com. Roxanne S. Austin, a current member of Target’s board of directors, is appointed as interim non-executive chair of the board. Cheap-but-chic Target is the US's #2 discount chain (behind Wal-Mart). The acquisition is intended to help same-day delivery and to better compete with Amazon. Throughout the season we follow a colorful cast of characters, including John Legend, Chrissy Teigen and top toys as they prep for the Toycracker—our modern, Broadway-style take on the Nutcracker. The acquisition includes more than 1,660 pharmacies in 47 states. The alliance has already achieved major milestones in the areas of safety standards, training curriculum and empowering worker voices. So far, we’ve successfully reduced our GHG emissions by 9 percent and eliminated 550,000 metric tons of CO2e across all of our buildings. [1] Also in 1970 Dayton-Hudson purchased Ronzone's in Las Vegas, Nevada, to be converted to a Diamond's store. Made to Matter products span baby, beauty and personal care, grocery, healthcare and household products, including Annie’s Homegrown, Burt’s Bees, Clif Bar & Company, Ella’s Kitchen, EVOL, Horizon Organic, Hyland’s, Kashi, method, Plum Organics, Seventh Generation, SheaMoisture, Target’s Simply Balanced, Vita Coco, Yes To and Zarbee’s Naturals. And we begin piloting Target Restock in Minneapolis, a service that lets guests use Target.com to fill a box with essentials and have it delivered to their home by the next day. It reopened six of these stores under the Target brand and sold the other four locations to Wal-Mart, Home Depot, and the Ontario Police Department, and its store count rose to 912 units in 44 states with sales reaching $26.0 billion. The result is a more efficient and enjoyable shopping experience for guests and team members. In 1946, the business started contributing 5% of its taxable income to the Dayton Foundation. Recognizing that busy shoppers don't always have time to visit several stores in one shopping trip, Target develops the SuperTarget store to provide guests with the convenience of one-stop shopping. In August, we announce a $14 million commitment to local youth soccer through two new national initiatives—a Target soccer grant program, and a partnership with the U.S. Soccer Foundation to build 100 new soccer play spaces by 2020. In 1881, native New Yorker George D. Dayton decides to explore the growing Midwest markets. investor relations. On January 13, 2011, Target announced its expansion into Canada, when it purchased the leaseholds for up to 220 stores of the Canadian sale chain Zellers, owned by the Hudson's Bay Company. Target becomes the lead sponsor of the International Trans-Antarctica Expedition. In 2013, our dedicated volunteers not only reach the milestone, they exceed it two years ahead of schedule, tracking more than 1 million total hours in their communities. Just in time for the holidays, we team up with country super-star Garth Brooks to release “Garth Brooks: The Ultimate Collection” only at Target. Barbie has a major style moment at Target, modeling our 2016 swimwear—and spreading a #NOFOMO (No Fear of Missing Out) message of confidence and style for every body type. We plan on integrating CHEFS Catalog and Cooking.com with our registry experience, as well as use stores as a pickup destination for online orders. Ulrich's retirement was due to Target Corporation policy requiring its high-ranking officers to retire at the age of 65. Target Corp is a reputable company and a fun place to work with good benefits. [51], On June 15, 2015, CVS Health announced its agreement to acquire Target's pharmacy and retail clinic businesses. We usher in the new year with new leaders, as two long-time Target leaders join our executive leadership team. This increase in profit was due mainly to the Target chain, which Ulrich had focused on making feature high-quality products for low prices. Target Canada racked up losses of $2.1 billion in its short life, and the store's botched expansion was characterized by the Canadian and US media as a "spectacular failure",[57] "an unmitigated disaster",[58][59] and "a gold standard case study in what retailers should not do when they enter a new market. In October, Target’s first Manhattan flexible format store opens in New York City’s Tribeca neighborhood. Hudson Company that year, to become the Dayton-Hudson Corporation, the 14th largest retailer in the United States, consisting of Target and five major department store chains: Dayton's, Diamond's of Phoenix, Arizona, Hudson's, John A. In June, we open a new distribution facility in Perth Amboy, N.J., to test how we move product faster and more efficiently in the Northeast market. It acquired the Ayr-Way discount retail chain of 40 stores and one distribution center from Indianapolis-based L.S. Part toy store and part larger-than-life holiday playground, Target Wonderland merges the physical and digital retail experience to reimagine holiday shopping for its guests. But big or small, they all deliver the full Target experience guests love. Target Stores ended the year with 11 units and $130 million in sales. Passengers hop aboard for a railway ride from Torino to various event sites, often with a specially branded cowbell or horn to get them into the spirit of the games. Designs for the 200+ pieces are inspired by an English garden, and feature florals, peplum, scallops, lace, gingham, poplin and more. Peacock, Inc., and the San Diego-based jeweler J. Jessop and Sons. [8] It acquired the San Francisco-based jeweler Shreve & Co., which it merged with previously acquired J.B. Hudson & Son to become Dayton Jewelers. After a decades-long partnership with Target, Haworth Marketing + Media moves in another direction and we broaden our relationship with GroupM. At the ShopTalk conference in March, CEO Brian Cornell unveils our next generation store design elements, with the first fully reimagined store opening near Houston in October 2017. The history of Target Corporation first began in 1902 by George Dayton. In the ensuing years, Bullseye goes on to star in several advertisements and makes numerous celebrity appearances on the red carpet. As Target’s new CEO, Cornell’s top priorities will be accelerating the company’s performance and advancing Target’s omnichannel evolution. In 1984, it sold its Plums chain to Ross Stores after only 11 months of operation, and it sold its Diamond's and John A. As part of our commitment to wellness, Target teams up with nonprofit KaBOOM! Choose contactless pickup or delivery today. Target partners with Vogue to reimagine 15 iconic images from the magazine’s past—each with a Target twist—for its highly anticipated September issue. The website allows Toys "R" Us to have an online presence, after bankruptcy, and at the same time adds a boost to Target's sales in toys. Analysts speculated that the data breach, as well as the financial losses caused by over-aggressive Canadian expansion, contributed to his departure. In March, we unveil Target Too, an exhibit featuring playful, interactive and shoppable installations made of Target products. We begin testing a same-day delivery service in our Tribeca small-format store that lets guests have their purchases delivered anywhere in Manhattan and parts of Brooklyn and Queens. On March 4, 2009, Target expanded outside of the continental United States for the first time. The original Bullseye, an English Bull Terrier named Arielle, makes his first appearance in a television commercial. "[85] Another—although much shorter—checkout register crash happened in 2013, on the same date as the Saturday crash.[85]. To help give educators the tools they need to inspire students to embrace learning, Target launches Take Charge of Education®. Throughout his life, Doug was also known for his passion for volunteerism. Find out the direct holders, institutional holders and mutual fund holders for Target Corporation (TGT). President Donald C. Dayton takes the new position of chairman of the board, and Bruce B. Dayton steps into the president role. As kids across the country head back to school, Target celebrates a major milestone, thanking guests for helping us reach our goal to give $1 billion for education by the end of 2015. Bruce B. Dayton and Kenneth N. Dayton retire from the Dayton-Hudson Corporation Board of Directors, ending 80 years of direct family involvement with the company. EQ Shareowner Services P.O. We’ve been one of the world’s most beloved brands since the first Target opened in 1962, but our story starts way before that. Thanks to a team-centric philosophy and a drive for continuous innovation, TCGR has crossed many finish lines together over the years, resulting in more than 100 wins and making Target one of the most recognizable brands of victory lane. Ayres & Company. Leading up to the big game, we transform Target Plaza Commons into the Bullseye Lodge for the city’s Super Bowl LIVE celebration, decked out with a Minnesota-inspired north woods theme, activities, snacks, fan gear and more. In the 1950s, the Dayton family paves the way for new leadership. In August, we introduce an expanded assortment of Archer Farms coffee with a number of bold new farm-to-cup improvements. The First company store was opened in Roseville, Minnesota in the year 1962 under the parent company Dayton Corporation. By 1991, Target Stores had opened 43 Target Greatland units, and sales reached $9.01 billion. Ultimately, through this initiative, all of Target’s REDcard products will be chip-and-PIN secured. To share our brand experience of Fast, Fun and Friendly service and quality goods at discounted prices, Target partners with country-music group The Judds to create TV and print advertisements to promote the new stores. In August, we announce plans to acquire Grand Junction, a technology company that helps retailers make deliveries faster and more efficiently. In 1997, make-up artist Sonia Kashuk collaborates with supermodel Cindy Crawford on the instructional beauty workbook, Basic Face. [24] They attempted to compete against other apparel specialty stores such as Gap by offering private label apparel such as its Merona brand. In 1970, Target Stores added seven new units, including two units in Wisconsin, and the 24-unit chain reached $200 million in sales. [3] That year, Target Stores opened seventeen new units, including expansions into Tennessee and Kansas. The first TargetExpress, our newest small-format store, opens its doors to guests in July in the Dinkytown neighborhood of Minneapolis. In 1993, it created a chain of closeout stores called Smarts for liquidating clearance merchandise, such as private label apparel, that did not appeal to typical closeout chains that were only interested in national brands. The Target Weekly Ad makes its first appearance on Target.com. No one knows transformation like Starbucks CEO Howard Schultz. investor contacts. National Federation of the Blind v. Target Corp. https://en.wikipedia.org/w/index.php?title=History_of_Target_Corporation&oldid=1001895185, History of companies of the United States, Creative Commons Attribution-ShareAlike License, This page was last edited on 21 January 2021, at 21:47. In August, Minsok Pak joins Target as our new chief strategy and innovation officer and in September, Tammy Redpath is named president of Target India. The store design and merchandise assortment cater specifically to the Alaskan market and include sections for fishing supplies and cold-weather gear. The Target Corporation's history dates back to 1902, when a man named George Dayton opened a store called Goodfellows in Minneapolis, Minnesota. [1], In 1998, Dayton-Hudson acquired Greenspring Company's multi-catalog direct marketing unit, Rivertown Trading Company, from Minnesota Communications Group, and it acquired the Associated Merchandising Corporation, an apparel supplier. Brown department store chains to Dillard's. Using a number of these untranslatable terms as inspiration, the campaign invites Target’s guests to experience the brand in a more personal way. And in July, Don Liu joins the team as executive vice president, chief legal officer and general counsel. [1] In 1972, the other fourteen units from the Arlan's acquisition were reopened as Target stores to make a total of 46 units. [1] On June 9, 2004, Target Corporation announced its sale of the Marshall Field's chain to St. Louis-based May Department Stores, which would become effective July 31, 2004. [24] Bruce Allbright returned to Target Stores as its vice chairman and chief administrative officer, and the chain expanded to 167 units and $2.41 billion in sales. George D. Dayton creates The Dayton Foundation with a $1 million endowment and a purpose to aid in promoting the welfare of mankind anywhere in the world. His message of resilience and humility in the face of change inspires and energizes the team. Pistner. The fashion-forward discounter operates 1,800-plus Target stores across the US, as well as an online business at Target.com. In doing so, it becomes the second American company to establish a preset amount of annual giving. Cornell, 55, joins Target with more than 30 years of experience at some of the nation’s leading retail and consumer product companies. Target's nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS plans to open up to 20 new clinics in their stores within three years. Throughout the year, we build out plans and share new goals, including a new chemical policy and forest products policy, five new sustainable packaging goals, and two new partnerships to help improve worker well-being across our global supply chain. [49], On January 22, 2014, Target "informed workers that it is terminating 475 positions at its offices globally. The mobile boutique hits the streets of New York for three days only before the new collection launches in all Target stores. Douglas J. Dayton, the first president of Target Stores, passes away on July 5. Through this innovative program, Target donates up to 1 percent of REDcard® purchases at Target or Target.com to eligible K-12 schools. Since opening in 1999, more than 1,337 families from 42 states and 36 countries have passed through Target House® and found it to be a place of love, support, community and hope. Target becomes one of the first mass-market retailers to offer a comprehensive gift-registry service. In January 2018, we begin rolling it out to the first markets in Alabama and Florida, and by June, it’s available in more than 135 markets nationwide. In February, we serve up an exclusive Umbro collection for kids, featuring 90+ pieces of soccer apparel, footwear and equipment. [35] It launched the Target Guest Card, the discount retail industry's first store credit card. Its loss in operational revenue was due to overstocking and carrying goods over multiple years regardless of inventory and storage costs. The company acquired the Portland, Oregon-based Lipman's department store company during the 1950s and operated it as a separate division. Guests have 1,000 reasons to celebrate with a greater selection of style and value in more locations. [19] It separated its e-commerce operations from its retailing division, and combined it with its Rivertown Trading unit into a stand-alone subsidiary called target.direct. [10], In 1990, it acquired Marshall Field's from Batus Inc.,[33] and Target Stores opened its first Target Greatland general merchandise superstore in Apple Valley, Minnesota. After several years in banking and real estate, Dayton decides Minneapolis offers the strongest opportunities for growth. So to keep things simple, we announce plans in August to rebrand all new and existing CityTarget and TargetExpress stores as “Target,” with the Bullseye logo. Even faster delivery for our guests, plus new services like same-day delivery and even assembly and installation. Map reprinted with permission from Rand McNally. When a customer goes on Toysrus.com to purchase a product it is redirected to Target.com to complete the order. Target launches choxie®, an exclusive premium line of chocolates. It opened a fifth distribution center in Pueblo, Colorado. As part of a three-year, $7-billion+ capital investment, we kick off plans to fully remodel 110 stores in 2017, and 500 more by 2019. He changed the name of his business to the Dayton Company in 1910. and within three days of its first appearance in stores, 400,000 bears find a new home. Target announces its goal to give $1 billion for education by the end of 2015. History of Target Stores. In February, guests get their first look at Universal Thread, an exclusive women’s lifestyle brand grounded in denim and featuring tops, dresses, accessories and shoes, and Opalhouse, an eclectic Home brand with 1,300+ pieces spanning bedding, bath, décor, tabletop and furniture. And in September, Beautycounter (a beauty industry disruptor known for high-quality products made with safer, cleaner ingredients) makes its mass-retail exclusive debut at Target, with a limited-edition line of make-up and skincare products. Inspired by the Dayton Hudson Foundation, the Minneapolis Chamber of Commerce started the 5% Club (now known as the Minnesota Keystone Program), which honored companies that donated 5% of their taxable incomes to charities. Target Corporation is America’s 2nd largest retail store chain today. [30] Dart originally offered $65 a share, and then raised its offer to $68. Seeing the need for superior managerial talent to succeed in a competitive retail environment, they adopt philosophies that encourage advancement and establish organizational success as a top priority. In September, seasoned retail business leader Cathy Smith joins Target as our new chief financial officer. In 1976 Dayton-Hudson was the eighth largest retailer in the U.S.,[17] and Target opened four new units and reached $600 million in sales. CEO Brian Cornell visits Capitol Hill and makes media appearances, sharing our commitment to comprehensive tax reform, but our concerns about the BAT’s potential to raise prices for American families.

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