Target

The History of Target

Target is one of the leading retail stores in the world that providing a vast variety of products to consumers. From fashionable clothing to school supplies, cleaning products to houseware, Target has it all. A few examples of what Target provides to consumers consist of: men, women, and children appeal (both casual and professional), toys, small appliances, casual and athletic shoes, health and beauty aids, school and office supplies, jewelry and accessories. They also provide to consumers, food and beverages, stationery, party supplies, home decor and gifts, electronics, automotive accessories, outdoor sports and fitness accessories, music, movies, books and much more.

Although Target can satisfy the average consumer’s need, they did become the successful and large corporation that they are today overnight. Target’s history began in 1902 when George Dayton opened the first small retail business called Goodfellow in downtown Minneapolis. In 1903, Dayton changed the company to Dayton Dry Goods Company. However, in 1910 The Dayton Dry Food company received another name change to The Dayton Corporation. It wasn’t until sixty years later in 1962 that George Dayton and his company entered the discount merchandising business with the opening of its first Target store in Roseville Minnesota. Shortly after the successful opening of Target, Dayton Corporation had its first public offering of common stock in 1967. Then in 1969, Dayton Corporation merged with J.L Hudson Company (at the time, the world’s largest shopping center in Detroit), creating Dayton Hudson Corporation (DHC). After the merger of J.L Hudson and Dayton Corporation (DHC), the retail store Mervyn’s opened creating DHC to the 7th largest U.S. retailer.

Evidence that DHC was going to stop growing was never an issue; it continued to grow quickly over the next 30 years. It was then in 1979, that Dayton’s Target store become the corporation’s top revenue producers....