The Target logo
Target Corporation is a discount chain. It is one of the largest retailers, and is the second-largest discount store, after Walmart. Target is the third-largest retailer, after Walmart and Kroger.
History
Target began as Dayton's in 1902, founded by George Dayton. Then, because of several discount stores, Dayton thought of the idea to open a discount store. So, in 1962, Dayton opened the first Target. Dayton's later opened B. Dalton Booksellers and acquired Lechmere. In 1969, Dayton's merged with Hudson's, and formed Dayton-Hudson. The new company included Target, Lechmere, B. Dalton, Dayton's, Hudson's, Diamond's, Lipman's, and Brown's. This gained D-H more money, and soon acquired Mervyns. In 1980, D-H sold Lipman's to Marshall Field's. In 1984, D-H sold Brown's and Diamond's to Dillard's. Later, they sold Lechmere and B. Dalton. In 1990, Dayton-Hudson bought Marshall Field's. In 2000, Dayton-Hudson had Target, Dayton's, Hudson's, and Mervyns. Target earned the most money, so Dayton-Hudson Corporation renamed itself Target Corporation. Target later renamed Dayton's and Hudson's Marshall Field's. In 2004, the corporation finally divested itself. They sold Mervyns and Marshall Field's. Both chains disappeared later, as Marshall Field's was renamed Macy's, and Mervyns went bankrupt. In 2011, Target announced they will open stores in Canada, there first international stores. Target competes with Walmart and Kmart. Most Targets have a Starbucks Coffee and Pizza Hut Express.
A Target store.
Store Concepts
- Target - discount chain in the US and Canada for a short time
- Target Greatland - discount store that has more products
- SuperTarget - hypermarket chain
- CityTarget - urban, smaller discount store
See also
- Walmart - competitor