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Headquarters:
1000 Nicollet Mall Website: http://www.target.com With its familiar red bullseye logo, Target Stores have become the nation's second-largest discount chain behind giant Wal-Mart. Target offers merchandise and brand names that are aimed at a more upscale shopper than Wal-Mart. For fiscal 2008, sales increased 2.3 percent to $62.9 billion. Including credit card revenues of $2.0 billion, total revenues for the year were $64.9 billion. Net earnings were $2.21 billion. The company currently operates 1,682 stores in 48 states. Approximately 239 locations are SuperTarget stores featuring a supermarket. According to the company, Target reaches a younger customer with higher incomes than its competitors. The median age of Target customers is 42, the youngest of all major discount retailers. The median household income is about $60,000. Eighty percent are female and 33 percent have children at home. About 80 percent attended college and 51 percent completed college. Because of its higher-end focus, Target stores are humorously referred to as "Tarzhay." Target currently has 26 regional distribution centers and 4 import warehouses. The Target.com distribution center for Internet purchases is in Woodbury, MN. In January, Target announced a workforce reduction at its headquarters locations which affects 9 percent of headquarters staff. This includes the elimination of 600 employees and 400 open positions, primarily in the Twin Cities area. In addition, the company announced it will close its Little Rock, AR distribution center, which currently employs 500 people, later this year. History Target Stores were first launched in 1962 as a chain of discount merchandising stores by the Dayton Corporation, an operator of department stores. In 1969, Dayton merged with the J.L. Hudson Company to become Dayton-Hudson. The company would go on to acquire the Marshall Fields and Mervyn's department stores but Target was the company's biggest revenue generator. In 2000, Dayton-Hudson changed its name to the Target Corporation. The company sold its Marshall Fields and Mervyn's divisions in 2004 for $4.9 billion. Benefits - Health benefits Updated February 28, 2009 |