Target Corporation

Target Corporation

Introduction

With its headquarters located in Minneapolis, Minnesota, Target Corporation is an American retail company that runs a chain of hypermarkets and discount department shops. It is a part of the S&P 500 Index and the seventh-largest retailer in the U .S .The business ranks among the biggest private employers in the country that is owned by Americans.
Businessman George Dayton established the company in Minneapolis in 1902, and it grew through acquisitions and development throughout time. Established in 1962, Target was the company’s initial cheap store and eventually its namesake. After combining with the J.L. Hudson firm in 1969, the firm became the Dayton-Hudson Corporation. Prior to that, it was the owner of multiple department store brands, including Marshall Field’s, Mervyn’s, Dayton’s, and Hudson’s. In 2000, the parent business changed its name to Target Corporation.
Target is well-known for emphasizing high-end, fashionable goods at affordable prices.Along with groceries, its stores usually sell a variety of miscellaneous products, such as toys, electronics, clothes, home goods, and more. Bullseye is the name of the company’s canine mascot, and both the name and emblem allude to the center of a shooting target. Target solidified its position in American popular culture by growing across the country in the latter half of the 20th century. Two of its primary rivals are Amazon and Walmart. In addition, the company runs two criminal forensics labs, a global capabilities center in Bangalore, India, a financial services section, and 41 distribution centers.
Target is the 32nd-largest U.S. firm by total revenue on the 2022 Fortune 500 list, and as of 2023, it operated 1,948 locations across the country. It has continuously been listed as one of the most giving American businesses. The chain’s attempts to expand internationally have failed. The corporate office of Target Corporation is situated in Minneapolis’s Nicollet Mall.

Target Corporation

History

When George Dayton bought Goodfellow Dry Goods in June 1902, the history of what would eventually become Target Corporation officially began. In 1903, the business changed its name to the Dayton’s Dry Goods Company, and in 1910, it became the Dayton Company. The main business of Target was renamed the Dayton Corporation in 1967, although the first Target store opened in Roseville, Minnesota, in 1962. After combining with the J. L. Hudson Company in 1969, it became the Dayton-Hudson Corporation, which owned the Dayton, Hudson, Marshall Field, and Mervyn department store brands. Target Corporation replaced Dayton-Hudson Corporation as the company name in 2000.

Target Corporation

Formats and histories of stores

Target

On May 1, 1962, the first Target bargain shop opened its doors in Roseville, Minnesota, a suburb of Minneapolis-Saint Paul. Approximately 135,000 square feet (12,500 m2), the properties of today sell general commerce, which includes both softlines and hardlines. Target has prioritized “customizing each new store to ensure a locally relevant experience that best fit the surrounding neighborhood’s needs” since August 2006, despite the fact that many of its locations adhere to the traditional big-box architectural design.Starbucks Coffee counters were initially exclusive to SuperTarget locations, but starting in 2003, their expanded agreement allowed them to be placed into general-merchandise stores as well. In addition to Starbucks, many stores also have Pizza Hut Express counters.
Target increased its grocery assortment in general-merchandise locations by as much as 200% when it unveiled the “PFresh” store prototype in 2006. While newly built PFresh stores are around 1,500 square feet (140 m2) larger than non-grocery properties, they nonetheless bear the Target name because their selection is far more constrained than SuperTarget’s. PFresh offers baked products, meat, dairy, frozen and perishable commodities. In 2006, the firm underwent renovations in 109 locations, and in the subsequent year, it renovated an additional 350 stores. Beginning in 2010, the company’s decision to close its garden centers created floor space for the growth of PFresh and larger seasonal departments.

Target Corporation

CVS Health

Target and CVS Health announced on June 15, 2015, that CVS Health would buy all of Target’s pharmacies and clinic operations for approximately $1.9 billion. Rebranded as CVS Health pharmacies, Target pharmacies has 1,672 locations as of February 2016. MinuteClinic was the new name for the Target clinics. CVS was able to enter the markets of Seattle, Denver, Portland, and Salt Lake City with the purchase of the Target pharmacies.

Target Corporation

SuperTarget

The outside of an Omaha, Nebraska, SuperTarget in 2020: October 2017 saw the remodeling of this business.
In September 1990, the first Target Greatland store opened its doors in Apple Valley, Minnesota. They set business standards with longer aisles, more pharmacy and photo departments, a food court, and around 50% more space than typical Target shops. They also had more price scanners and checkout lines than other Target stores. Since 2009, Target Greatland locations have been transformed into stores using the PFresh model.
In 1995, the first Super Target hypermarket opened its doors in Omaha, Nebraska, incorporating a comprehensive grocery department as part of the expansion of the Target Greatland concept. 2003 saw the company add more groceries to its lineup and change its slogan to “Eat Well. Pay Less.”
Then-CEO Gregg Steinhafel said that Walmart functions like “a grocer that happens to also sell general merchandise” when comparing itself to rival Walmart Supercenter hypermarkets. In contrast, he said that SuperTarget’s less aggressive expansion of stores is indicative of their view of the grocery business as a “high-impact, low-cost” side project. As of September 2015, the corporation operated 239 SuperTarget sites, with an estimated total area of 174,000 square feet (16,200 m2).
Target was cited as saying, “Big or small, our stores have one thing in common: they’re all Target,” in an August 2015 story.Since then, more recent Target locations have opened.

Target in small format

The outside of Boston, Massachusetts’s CityTarget, which was renamed as Target in October 2015
Most “small-format” CityTarget stores are about 80,000 square feet (7,400 square meters), while standard Target sites are about 135,000 square feet (12,500 square meters). The first CityTarget locations debuted in July 2012 in Chicago, Los Angeles, and Seattle. The largest CityTarget branch, spanning 160,000 square feet (15,000 m2), is located in Boston and opened its doors in July 2015. TargetExpress stores are between 14,000 and 21,000 square feet (1,300 and 2,000 m2) in size; the first one debuted in July 2014 in Dinkytown, close to the University of Minnesota. Usually, goods in these flexible-format properties are offered in smaller packaging designed to appeal to consumers who take public transportation.
Through 2019, almost all of its scheduled openings will be modest formats, measuring less than 50,000 square feet (4,600 square meters). Gaining the patronage of millennials is the aim of these smaller-format retailers. The over thirty new venues were to be found in heavily populated areas or college cities.

Target Corporation

Subsidiaries and brands

Target Brands, Inc., Target Capital Corporation, Target Enterprise, Inc., and Target General Merchandise are the four subsidiaries of Target as of 2018.

Target Corporation

Division of Financial and Retail Services

Target’s credit cards, the Target REDcard (previously the Target Guest Card), are issued by Financial and Retail Services (FRS), formerly known as Target Financial Services. Target Bank issues credit cards to businesses, while Target National Bank (formerly Retailers National Bank) issues them to consumers. GiftCard balances are also managed by FRS. Target introduced the Target Check Card, a PIN-x debit card that was later renamed as the Target Debit Card. The Target Debit Card offers up to $40 in “cash back” and takes money out of the user’s current checking account. Guests using the debit card can get 5% off every purchase. Target discontinued using the tagline “Save 5% Today, Tomorrow, & Everyday with Target REDcard” at the end of 2017 in order to introduce additional advantages for REDcard customers.

Determine Which Sourcing Services to Target

This worldwide sourcing company finds products for Target all over the world and assists with their importation into the US. Products include clothing, furniture, towels, and bedding. Target Sourcing Services employs 1,200 people worldwide and has 27 full-service offices, 48 quality-control offices, and seven concessionaires. Its engineers are in charge of assessing the manufacturers Target Corporation works with in terms of quality, labor rights, and transshipment concerns. Founded in 1916 as the Associated Merchandising Corporation, it was previously owned by the customers it catered to before being purchased by Target Corporation in 1998. The department-store group of TSS, formerly known as the Associated Merchandising Corporation, which served as a buying office for Saks, Inc., Bloomingdale’s, and Stage Stores, has stopped operations.

Private-label brands

The company’s brand-management branch, Target Brands, is in charge of managing its private-label offerings. Target’s mascot is also a white Bull Terrier named Bullseye.

Archer Farms and Simply Balanced were replaced by the food and beverage brand Good & Gather.
Market Pantry and inexpensive grocery items
A premium beef line called Sutton & Dodge
Pet supplies and food brand Boots & Barkley
Embark is an outdoor gear brand that sells camping and travel accessories.
A collection of low-end home items called Room Essentials
Brightroom is a brand of storage products.
Threshold, an exclusive brand of furniture
Wondershop is a brand of Christmas decorations.
The Halloween decoration company Hyde and Eek
In collaboration with the brand owner Iconix, Fieldcrest is a bedding and bathroom range. Brand Group up & up provides basic necessities such as products for the home, health, beauty, baby, and personal care.
Swimwear and a brand of sleepwear and intimates called Xhilaration.

Target Corporation

Other private labels include brands launched in July 2016, during back-to-school sales.

A line of children’s bedding called Pillowfort
Cat and Jack is a kids clothing and accessory brand.
Cloud Island is a baby clothes and bedding brand.
Project 62, a home goods brand, is positioned next to Room Essentials Goodfellow & Co., a men’s apparel and personal care brand, which pays reference to its original name, Goodfellow Dry Goods.
Women’s apparel brand A New Day
JoyLab, a women’s fitness apparel brand
A home and lifestyle company called Hearth and Hand, working with designer Joanna Gaines

Eight Target private-label brands that launched in 2018:

A denim lifestyle brand called Universal Thread
Opalhouse, unique interior design
Heyday is a brand of technological accessories.
Original Use is a menswear brand aimed at millennials and Generation Z.
Women’s apparel company Wild Fable caters to Generation Z.
The home essentials range from Made By Design includes kitchen gadgets, glasses, plates, pots, towels, and cooking utensils, among other items.
Prologue is a collection of elegant women’s clothes
Astutely, a commodity brand that encompasses personal care, beauty, healthcare, and domestic goods.

In addition, Target released three new intimates, loungewear, and sleepwear brands for women on February 25, 2019.

Auden, an intimates and lingerie exclusive brand
Stars Above, an in-house brand for sleepwear
Colsie, an intimates and loungewear brand
Target unveiled All In Motion, an athleisure collection of clothing containing items for men, women, boys, and girls, as their new activewear brand on January 9, 2020. The logo of the brand pays reference to an earlier Dayton’s design.
Target debuted a new brand, Favorite Day, on March 9, 2021. This brand will sell goods for making mocktails and beverage mixers, as well as bakery, snacks, candies, and luxury ice cream. April 5, 2021, was its premiere date.

Former brands include:

Children’s and women’s apparel from Cherokee: Target stores declared on September 10, 2015, that they would stop carrying the brand when their license with Cherokee Inc. ended on January 31, 2017. Cat & Jack took its place.
Kids’ and toddlers’ clothes under the Circo brand: After its launch, Cat & Jack took its position.
Target acquired the apparel line Merona in 1991.
Following the launch of the brands Auden, Stars Above, and Colsie, the apparel line Mossimo Supply Co., in collaboration with the brand owner Iconix Brand Group Gilligan & O’Malley, terminated its intimate and sleepwear product lines.

Target Corporation

Websites

Site typeURL for online shoppingawww.target.com
BusinessIndeed.
Although it’s optional, certain features need registration.
started in 2000, or 23 years ago
August 2011; a rebranding twelve years ago
As of right now, online
Target.com is the owner and manager of the business’s online stores, including Target.com. It was established as target.direct at the beginning of 2000. It was created by dividing the company’s retailing division and its e-commerce operations into two separate entities: a stand-alone subsidiary and its Rivertown Trading direct-marketing unit. Target.direct and Amazon.com’s subsidiary Amazon Enterprise Solutions formed a collaboration in 2002 whereby Amazon.com agreed to pay Target.com fixed and variable costs to offer order fulfillment and guest services. Following the 2004 sale of Marshall Field’s and Mervyn’s, target.direct was rebranded as target.com.

Previous affiliates

A network of portrait studios called Target Portrait Studio was housed in a few different Target locations. The franchise, run by Lifetouch, began business in 1996 and closed on January 28, 2017.
Garden centers in Target, Super Target, and Target Greatland shops were part of the Target Garden Center business. There were garden centers at about 260 Target locations in Florida, California, Nevada, and Arizona. In September 2010, Target’s garden centers all closed. According to Jana O’Leary, a spokesman for Target, the garden centers’ closure was due to the fact that “our guests don’t receive significant value from the garden centers.” Furthermore, we can no longer turn a profit on it.
The Target store chain in Canada was known as Target Canada. When Target bought Zellers’ leases and turned them into Target stores, it was founded in 2013. Target Canada operated for two years before all of its locations closed in 2015. Target’s entry into the Canadian market was characterized by the Canadian news media as a “spectacular failure,” “an unmitigated disaster,” and “a gold standard case study in what retailers should not do when they enter a new market” after the retail chain incurred losses of $2.1 billion during its brief existence.

Chain of supply

Chief supply chain officers have been appointed to positions at several major US companies by a number of former Target supply chain executives. Notable individuals are:
Starbucks’ Arthur Valdez
Nordstrom’s Alexis Depree
Yankee Colin – Tractor Supply
RNDC’s Sean Halligan
Kristin Bauer of Footlocker, Amanda Martin of Neiman Marcus,
Mark Irvin of Best Buy, Derek Hornsby of Michaels Stores, Mario Rivera of CVS, and Moid Alwy of ATD.

Within popular culture

The 1991 John Hughes film Career Opportunities, which depicts the story of an employee and a client who fall in love inside a Target store after hours, is one of the first examples of Target in popular culture.
In the 2000s, Kristen Wiig, a cast member, portrayed the Target Lady, an overly excited Target cashier, in a recurrent comedy on the American television program Saturday Night Live.
An episode of the third season of the American TV comedy Superstore is named after Target. An employee of the made-up big-box store “Cloud 9” is accused of employee poaching when she quits to work at Target in the episode.

REFERENCES

https://rb.gy/0q9bgs

https://rb.gy/79pmh5

https://rb.gy/tc2tri

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *