The Target Corporation – Company Information

The Target Corporation – Company Overview

Target logo
Company The Target Corporation
Headquarters 1000 Nicollet Mall, Minneapolis, Minnesota 55403, USA
Chairman and CEO Brian C. Cornell
Executive Vice President and CFO Catherine R. Smith
Industry Retail
Type Public
Founder 1902
Founded George Dayton
NYSE stock symbol TGT
Sales $73,785 million USD (2015)
Gross margin $21,788 million USD (2015)
Net earnings $3,363 million USD (2015)
Employees 314,000 (2015)
Corporate website
IR contact number 1.800.775.3110
IR email address [email protected]

The Target Corporation is the second-largest discount retailer in the United States, with over 1,900 stores across the US and Canada. It is headquartered in Minneapolis, Minnesota.

The company was founded in 1902 by George Dayton as the Dayton Dry Goods Company. Dayton had a strong belief in “the higher ground of stewardship” and his business ethics led the company to become well known for dependable merchandise and fair business practices.

George Dayton remained President of the company until his death in 1938 and his sons would go on and take control of the business.

In 1961 the Dayton Corporation announced that it would be opening new stores across across the country that combined “the best of the fashion world with the best of the discount world, a quality store with quality merchandise at discount prices, and a discount supermarket”, in addition to “loads of well-lighted parking…for 1,200 cars.”

Choosing the name for the new store proved to be a difficult task, with a staff debate of more than 200 possible names. The company eventually decided to call the stores “Target”. The reason for choosing the name was because “as a marksman’s goal is to hit the center bulls-eye, the new store would do much the same in terms of retail goods, services, commitment to the community, price, value and overall experience.”

In 1975 Target was the number one revenue producer of the Dayton-Hudson Corporation.

In 2000 The Dayton Hudson Corporation decided to change its name to Target Corporation.

The company’s main competitors are other discount retailers, such as Walmart and Kmart.

In 2015 Target closed all of its Canadian outlets because of lackluster sales numbers.

Target Corporation – Stores and Distribution Centers

As of January 2016 Target Corporation operates over 1,792 stores across the U.S, including:

  • 289 General Merchandise Stores
  • 1,245 Expanded Food Assortment Stores
  • 251 SuperTarget Stores
  •  8 CityTarget Stores

The company has 40 distribution centers:

  • 29 Regional Distribution Centers
  • 4 Food Distribution Centers
  • 4 Import Warehouses
  • 3 Target.Com Fulfillment Centers

The Target Corporation has the following own brands:

Archer Farms®
Market Pantry®
Simply Balanced™
up & up®
Boots & Barkley®
Room Essentials®
Wine Cube®
Smith & Hawken®
Ava & Viv®
Gilligan & O’Malley®
Sutton & Dodge®
Sonia Kashuk®

Exclusive Brands:

C9 by Champion®
DENIZEN® from Levi’s®
Nate Berkus for Target
Oh Joy!® for Target
Genuine Kids® from OshKosh®
Hand Made Modern®
Liz Lange® for Target
Just One You® made by carter’s®
Shaun White
Kid Made Modern®

The Target Corporation – Financial Results

Key figures (in millions of USD) 2015* 2014*
Sales $73,785 $72,618
Gross margin $21,788 $21,340
Net earnings from continuing operations $3,321 $2,449
Net earnings (loss) $3,363 $(1,636)
Total assets $40,262 $41,172
Cash and cash equivalents at beginning of period $2,210 $695
Cash and cash equivalents at end of period $4,046 $2,210

*Year ended January 30, 2016 and January 31, 2015

Source: “The Target Corporation – 2015 Form 10-K”

Target Corporation – Live Stock Market Data