Origins: From Dry Goods to Department Store

Target Corporation's roots trace back to 1902 when George Draper Dayton, a banker and real estate investor, purchased Goodfellow Dry Goods in Minneapolis, Minnesota. He renamed it Dayton Dry Goods Company in 1903, and by 1911, it became known as The Dayton Company. Under Dayton's leadership, the store earned a reputation for quality merchandise and community involvement. History Oasis+2Encyclopedia Britannica+2Fox Business+2Fox Business

The Birth of Target: A New Retail Concept

In 1962, The Dayton Company introduced a novel retail concept by opening the first Target store in Roseville, Minnesota. This store aimed to offer "upscale discount" shopping, combining the best of department store fashion and quality with affordable prices. The concept was developed by John F. Geisse and led by Douglas Dayton, George Dayton's grandson. History OasisPapersOwl+4Wikipedia+4Wikipedia+4

Expansion and Merger: Forming Dayton-Hudson Corporation

Throughout the 1960s, Target expanded beyond Minnesota, opening stores in Colorado, Missouri, and Texas. In 1969, The Dayton Company merged with the J.L. Hudson Company of Detroit, forming the Dayton-Hudson Corporation. This merger created one of the largest retail conglomerates in the United States, encompassing several department store chains. Time+2Wikipedia+2History Oasis+2Wikipedia

Target's Rise: Becoming the Leading Revenue Source

By the 1970s, Target had become Dayton-Hudson's leading revenue producer. In 1975, it was the company's top-performing division, and by 1979, Target's annual sales had reached $1 billion. Encyclopedia Britannica

Rebranding: Transition to Target Corporation

Recognizing Target's dominance, Dayton-Hudson Corporation rebranded itself as Target Corporation in 2000. This shift marked a strategic focus on the Target brand, leading to the sale of other department store divisions such as Mervyn's and Marshall Field's. Aithor+2Wikipedia+2Wikipedia+2

Innovations and Store Formats

Target continued to innovate by introducing new store formats. In 1990, it launched Target Greatland, offering a wider selection of merchandise. In 1995, the first SuperTarget opened in Omaha, Nebraska, featuring a full-service grocery, pharmacy, and other amenities. Encyclopedia Britannica

Recent Developments and Leadership

As of 2024, Target operates 1,978 stores across the United States. Under the leadership of CEO Brian Cornell, appointed in 2014, the company has focused on enhancing the customer experience, expanding private-label brands, and investing in e-commerce and supply chain improvements.