Target Corporation
Target Corporation is an American retail corporation that operates a chain of discount department stores and hypermarkets, headquartered in Minneapolis, Minnesota. It is the seventh-largest retailer in the United States, and a component of the S&P 500 Index.[3] The company is one of the largest American-owned private employers in the United States.
Not to be confused with Target Australia, Target Canada, or Target Books.Formerly
- Goodfellow Dry Goods
- (1902–1903)
- Dayton's Dry Goods Company
- (1903–1910)
- Dayton Company
- (1910–1962)
- Dayton Corporation
- (1962–1969)
- Dayton-Hudson Corporation
- (1969–2000)
Retail
- June 24, 1902 (corporation)
- May 1, 1962 (store)
- George Dayton (corporation)
- Douglas Dayton & John Geisse (store)
- Target Plaza
- Minneapolis, Minnesota, U.S.
1,956 stores (2024)[1]
United States, Canada (formerly, see Target Canada)
Brian C. Cornell
(Chairman & CEO)
Clothing, designers, footwear, accessories, jewelry, beauty products, groceries, food, drinks, electronics, housewares, appliances, bedding, bath, furniture, home decor, books, toys, games, movies, music, lawn and garden, pet supplies, health and hygiene products, gifts, optical, snack bar, and pharmacy
US$107.4 billion (2023)
US$5.707 billion (2023)
US$4.138 billion (2023)
US$55.36 billion (2023)
US$13.43 billion (2023)
415,000 (2024)
- Dayton Corporation (1962–1969)
- Dayton-Hudson Corporation (1969–2000)
The corporation was founded in Minneapolis by businessman George Dayton in 1902, and developed through the years via expansion and acquisitions. Target, the company's first discount store and eventual namesake, was opened in 1962. The company became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and formerly held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's. The parent company was renamed the Target Corporation in 2000.
Target is notable for its focus on upscale, trend-forward merchandise at lower costs.[4] Its stores typically sell general merchandise—including clothing, household goods, electronics, toys, and more—as well as groceries. Its name and logo refer to the center of a shooting target, and its canine mascot is named Bullseye. Target expanded throughout the U.S. in the late twentieth century, cementing its place in American popular culture. Its main competitors include Walmart and Amazon. The corporation also operates 41 distribution centers, a financial services division, a global capabilities center in Bangalore, India, and two criminal forensics laboratories.
As of 2023, Target operates 1,948 stores throughout the United States,[5] and is ranked No. 32 on the 2022 Fortune 500 list of the largest U.S. corporations by total revenue.[6] It has been consistently ranked as one of the most philanthropic companies in the U.S. Attempts to take the chain international have proved unsuccessful. Target Corporation's headquarters is located on Nicollet Mall in Minneapolis.
Type of site
Yes
Optional but required for some features
2000
August 2011 (rebrand)
Online
International operations[edit]
Target only operates in the United States as of 2023, however in the past, Target attempted to bring their stores to Canada. Therefore, other companies and trademarks that are under the name of "Target" outside of the United States are not owned by the Target Corporation.
There is a company in Australia with the same logo, and the same name, but these stores are not related. It could be possible that the copying of the branding was legal, or that the companies both ended up with the same name and logo by coincidence, as the logo of the Target Australia brand and the Target Corporation are obvious choices for the name "Target". Both Target Australia and the Target Corporation are the re-branded names and designs of older, also unrelated, stores.
Labor relations and team member offerings[edit]
In 2015, Target followed Walmart in raising its minimum wage to $9 per hour.[122] Two years later, Target announced that the minimum hourly wage would be increased to $11 by October 2017 and pledged to raise it to $15 (referred to as "living wage" by labor advocates) by 2020.[123][124] By April 2019, the company announced that it was on track to meet this goal, increasing its minimum wage to $13 per hour.[125] In June 2020, Target announced ahead of schedule that the minimum hourly wage would rise to $15 permanently, after previously announcing it to be temporary through July 4, 2020. As a thank you to store and distribution center team members who worked during the COVID-19 pandemic in the United States, Target also announced a one-time $200 bonus to be paid towards the end of July 2020. During the COVID-19 pandemic, Target began providing additional team member resources to help team members meet essential needs, obtain virtual healthcare, and take a paid leave of absence (based on certain medical or physical criteria that may cause exposure to coronavirus).[126][127] In February 2021, Target began offering all of its hourly employees up to four hours of pay when they get both doses of the COVID-19 vaccine as well as covering the cost of a Lyft ride, up to $15 each way, to the vaccination appointment.[128] In August 2021, Target announced a $200 million investion to offer debt-free degrees to more than 340,000 full-time and part-time team members at stores, distribution centers, and headquarters locations.
Target logo, 1962–1968
Target logo, 1968–present
Target logo, used as primary logo from 1968 to 2004 and secondary logo from 2004 to 2018
Target logo, 2004–2018
Target logo, 2018–present
Target Greatland logo, 1990–2006
Original SuperTarget logo, 1995–2006
Second SuperTarget logo, 2006–2018
CityTarget logo, 2012–2015
TargetExpress logo, 2014–2015
Super Target logo, 2004–2018
Target forensic services[edit]
In 2006, The Washington Post revealed that Target was operating two criminal forensics laboratories, one at its headquarters and the other in Las Vegas.[164] Originally, the lab was created with the role of investigating internal instances of theft, fraud, and other criminal actions that have occurred on its own properties. Eventually, the company began offering pro bono services to law enforcement agencies across the country. Target's Forensic Services has assisted agencies at all levels of government, including such federal agencies as the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Federal Bureau of Investigation, and the United States Secret Service.[165][166]
Criticism and controversy[edit]
Animal welfare concerns[edit]
In 2011, Mercy for Animals, a nonprofit organization dedicated to preventing cruelty to farmed animals and promoting compassionate food choices and policies, uncovered alleged animal abuse at a Target egg supplier, Sparboe Farms.[167]
The investigation received international media attention; it aired first on ABC's Good Morning America,[168] World News Tonight with Diane Sawyer,[169] and 20/20.[170] As a result of the investigation and the public outcry that followed, Target immediately discontinued its relationship with the company.[171][172][173] In January 2016, Target Corp. announced that it will discontinue the use of eggs from caged hens, and become entirely cage-free by 2025.[174]
LGBTQ[edit]
Pop star Lady Gaga was expected to give the store an exclusive expanded edition of her then upcoming album Born This Way, but she ended the deal after discovering that then CEO Gregg Steinhafel donated to a political action group that supported an anti-gay candidate.[175] Target apologized[176] and began its outward support of the LGBTQ community. In 2012, it began by stocking gay pride merchandise and donating half of the profits to GLSEN.[177] In 2014 it began featuring LGBTQ individuals and couples in national advertising.[178] In 2015, Target debuted their #takepride campaign, and partnered with GLSEN to produce a mini-documentary celebrating their 25th anniversary.[179][180] Target sponsors many LGBTQ non-profits including Human Rights Campaign, GLSEN, GLAAD, Family Equality Council, NGLCC and the Williams Institute. For the last three years, Target has been the presenting sponsor of GLAAD's Spirit Day. In 2017, Target was the founding partner of New York City's Pride Youth. Target was ranked by LGBTQ Consumers as a favorite brand in 2016 and 2017 by Community Marketing Inc's 10th and 11th Annual LGBT Community Surveys. Target has a score of 100 on the Human Rights Campaign Corporate Equality Index[181] for their corporate policies and practices pertinent to lesbian, gay, bisexual, transgender and queer employees. In 2019, Target donated $100,000 to GLSEN.[182]