Target Stores

Nation's second-largest chain of discount stores.

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Headquarters: 1000 Nicollet Mall
Minneapolis, MN 55403
Employees: 360,000
CEO: Gregg Steinhafel
Stock Symbol: TGT

Website: http://www.target.com

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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
- Dental benefits
- Pension Plan
- 401(k) plan
- Disability Insurance
- Life Insurance
- Vacation and personal holidays
- Adoption, education and home loan assistance
- 10% Employee Discount

Updated February 23, 2010