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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. In fiscal 2007, Target reported $63.3 billion in sales, a 6.5% increase. Sales were driven by the opening of new stores and credit card operations. Net earnings were $2.87 billion. The company currently operates 1,613 stores in 47 states. Approximately 210 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 40 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 distribution centers nationwide and 5 import warehouses. The Target.com distribution center for Internet purchases is in Woodbury, MN. 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 April 7, 2008 |