Company profile: Target

Discover how a US department store became one of the nation’s biggest retailers

Target Corporation grew out of Goodfellow’s Dry Goods in 1901, but by 2020 it was the eighth-largest retailer in the United States based on worldwide retail sales.

Founder George Dayton bought into Goodfellow’s in 1901 before taking it over and renaming it Dayton Dry Goods Company in 1903. By 1911, it was renamed again and became known as Dayton’s. The first Target department store opened in Minneapolis, Minnesota in 1962 as the discount arm of Dayton’s.

In 1969 Dayton’s merged to form the Dayton-Hudson Corporation, which began rolling out Target nationwide in the 1980s.

The Target brand promise “expect more, pay less” was introduced in the 1990s. By the noughties its clothing line was considered covetable thanks to its price-friendly partnerships with more expensive and exclusive designer brands including Rixo.

The parent company was renamed the Target Corporation in 2000.

Target company profile - key facts

CEO: Brian C Cornell

Founded: 1962, Roseville, Minnesota US

Known for: selling everything from computers to clothes

Ticker: TGT

Traded on: NYSE, constituent of S&P 500 Index

Employees: 350,000

Revenue: $78.11bn (2020)

TGT price history

Date Close Change Change(%) Open High Low
Jan 14, 2022 220.96 -0.92 -0.41% 221.88 223.89 218.00
Jan 13, 2022 225.41 0.71 0.32% 224.70 226.41 223.22
Jan 12, 2022 224.02 -3.62 -1.59% 227.64 229.51 223.69
Jan 11, 2022 227.05 -0.18 -0.08% 227.23 228.34 223.58
Jan 10, 2022 227.02 -0.63 -0.28% 227.65 227.98 222.52
Jan 7, 2022 230.40 0.71 0.31% 229.69 232.77 228.69
Jan 6, 2022 230.95 8.79 3.96% 222.16 232.22 222.14
Jan 5, 2022 228.43 -5.80 -2.48% 234.23 235.91 228.41
Jan 4, 2022 233.67 2.47 1.07% 231.20 235.25 230.95
Jan 3, 2022 231.51 0.88 0.38% 230.63 231.90 228.32
Dec 31, 2021 231.00 -0.82 -0.35% 231.82 233.14 228.82
Dec 30, 2021 231.50 3.05 1.34% 228.45 233.48 228.20
Dec 29, 2021 227.52 2.63 1.17% 224.89 229.15 224.89
Dec 28, 2021 224.48 0.56 0.25% 223.92 227.12 223.16
Dec 27, 2021 223.71 1.97 0.89% 221.74 224.31 220.60
Dec 23, 2021 220.61 2.66 1.22% 217.95 221.77 217.93
Dec 22, 2021 217.34 -2.02 -0.92% 219.36 220.92 216.67
Dec 21, 2021 219.69 1.39 0.64% 218.30 220.28 216.17
Dec 20, 2021 218.82 -1.49 -0.68% 220.31 220.31 214.21
Dec 17, 2021 222.79 -0.95 -0.42% 223.74 225.83 221.04

Target is located in Minneapolis, Minnesota, but it operates through 1,909 stores in the United States. Target has a store in 50 US states and the District of Columbia (better known as Washington DC), putting at least 75% of the US population within 10 miles of a Target store.

Target is listed on the New York Stock Exchange as is owned by its shareholders. It has three significant subsidiaries – Target Brands, Target Enterprise and Target General Merchandise.

Its largest shareholders include financial institutions including Vanguard and BlackRock.

Target timeline

1903: Dayton Dry Goods company formed by George Dayton

1911: Dayton’s Department Store founded

1962: Target founded

1967: listed on the New York Stock Exchange

1975: Target Stores becomes top revenue producer of the Dayton-Hudson Corporation

1990: Dayton-Hudson Corporation purchases Marshall Field’s, a legendary Chicago-based department store founded in 1852, from Batus Inc, the American arm of BAT Industries plc. 

1995: Target credit card launched

2000: Company renamed Target Corporation

2005: Target exceeds $50bn in annual sales

2010: Target starts selling fresh food

2015: CVS Health announced an agreement with Target to acquire all of Target’s pharmacies and clinic businesses for around $1.9bn.

Trade Target Corp - TGT stock price

Target Corp
Daily change
220.05
Low: 217.48
High: 220.05
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