Target Corporation (NYSE: TGT), originally known as the Dayton Dry Goods Co., is
an American retailing company that was founded in Minneapolis, Minnesota, in 1902.
In 1962, the first Target store was opened in Roseville, Minnesota. It is the
fifth largest retailer by sales revenue in the United States behind Wal-Mart,
The Home Depot, Kroger and Costco. The company is ranked 31st on the 2008 Fortune
500. Target operates its retailing business exclusively in the United States.
It is a rival and competitor of Kmart and Wal-Mart.
Target was listed
in Internet Retailer's list of the top 500 retail web sites in 2007. Formerly
traded as Dayton Hudson, Target is a component of the Standard and Poor's
500 index.
In 1902, George Dayton constructed a six-story building in
downtown Minneapolis and convinced R.S. Goodfellow Company to move its Goodfellows
department store into it. The store's owner, Reuben Simon Goodfellow, retired
and sold his interest in the store to George Dayton. In 1903, the store changed
its name to the Dayton Dry Goods Company, and it changed its name again to
the Dayton Company in 1910. In the 1950s, it acquired the Portland, Oregon-based
Lipmans department store company and operated it as a separate division.In
1956, the Dayton Company opened Southdale, the world's first fully-enclosed two-level
shopping center in Edina, Minnesota, a suburb of Minneapolis.The Dayton
Company also became a retail chain by opening its second Dayton's store in Southdale. |
