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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 and aims for a more upscale shopper. The company currently operates 1,763 stores in 49 states which include 251 SuperTarget stores and 452 stores with expanded grocery sections. Target plans to remodel more regular stores to add grocery sections this year. 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, 4 food distribution warehouses and 4 import warehouses. Target.com has three distribution centers for Internet purchases is in Woodbury, MN; Ontario, CA; and Tucson, AZ. For fiscal 2011, revenues increased 4.1 percent to $68.46 billion, including credit card revenues of $1.399 billion. Net earnings were $2.92 billion. “Target generated strong financial performance in 2011, overcoming sluggish economic growth, restrained consumer spending and an intensely promotional holiday season,” said Gregg Steinhafel, chairman, president, and chief executive officer of Target Corporation. “For the full year, our U.S. businesses generated 14.3 percent growth in adjusted earnings per share, and we experienced our strongest growth in comparable-store sales since 2007. As we look ahead to 2012, we’ll continue to focus on bringing our “Expect More. Pay Less.” brand promise to life for our guests, providing unique, well-designed merchandise while driving value and loyalty with initiatives like 5% Rewards and REDcard Free Shipping. In addition, we’ll continue to invest in our store, online and mobile channels, open our first CityTarget locations in July and prepare for the opening of our first Canadian Target stores in early 2013.” 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. The stores eliminated gardening sections in 2010. Benefits - Health benefits Updated February 25, 2012 |