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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 2009, revenues increased 0.6 percent to $65.3 billion. Including credit card revenues of $1.9 billion. Net earnings were $2.48 billion. The company currently operates 1,740 stores in 49 states which include 251 SuperTarget stores with expanded grocery sections. 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. The company said it would invest $1 billion to remodel 340 stores in 2010 including an expanded grocery format. 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 23, 2010 |