How Has Target Changed Over The Years

Aspect of history

Target'south original bullseye logo, used from 1962 until 1987

The history of Target Corporation start began in 1902 by George Dayton. The company was originally named Goodfellow Dry Goods in June 1902 before being renamed the Dayton's Dry out Goods Company in 1903 and later the Dayton Company in 1910. The showtime Target shop opened in Roseville, Minnesota in 1962 while the parent visitor was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson'south, Marshall Field'southward, and Mervyn's. In 2000, the Dayton-Hudson Corporation was renamed to Target Corporation.

1902–61: Dayton Company [edit]

The Westminster Presbyterian Church in downtown Minneapolis burned downwards during the Panic of 1893; the church was looking for revenue because insurance would not comprehend the cost of a new edifice. Its congregation appealed to George Dayton, an active parishioner, to purchase the empty corner lot adjacent to the original church'southward so it could rebuild; he eventually constructed a six-story building on the newly purchased belongings.^[ane] Looking for tenants, Dayton convinced the Reuben Simon Goodfellow Company to move its nearby Goodfellows section store into the newly erected edifice in 1902, although its owner retired birthday and sold his interest in the store to Dayton.^[two] The store was renamed the Dayton Dry Goods Visitor in 1903, and was shortened to the Dayton Company in 1910.^[i] Having maintained connections as banker nevertheless lacking previous retail experience, Dayton operated the visitor as a family enterprise over which he held tight control and enforced strict Presbyterian guidelines. Consequently, the store forbade the selling of alcohol, refused to advertise in newspapers that sponsored liquor ads, and would not allow any kind of business concern activeness on Sundays. In 1918, Dayton, who gave abroad most of his coin to charity, founded the Dayton Foundation with $i million.^[1]

By the 1920s, the Dayton Company was a multimillion-dollar business organisation and filled the unabridged vi-story building. Dayton began transferring parts of the business organisation to his son Nelson after an earlier 43-twelvemonth-onetime son David died in 1923. The company made its outset expansion with the acquisition of the Minneapolis-based jeweler J.B. Hudson & Son right before the Wall Street Crash of 1929; its jewelry store operated in a net loss during the Dandy Depression, just its section store weathered the economic crisis. Dayton died in 1938 and was succeeded by his son Nelson as the president of the $fourteen million business organization, who maintained the strict Presbyterian guidelines and conservative management style of his begetter.^[1] Throughout World War Ii, Nelson Dayton's managers focused on keeping the store stocked, which led to an increase in revenue. When the War Production Lath initiated its flake metal drives, Dayton donated the electric sign on the section shop to the local scrap metal heap. In 1944, it offered its workers retirement benefits, becoming one of the first stores in the U.s.a. to practice so, and began offering a comprehensive health insurance policy in 1950. In 1946, the business concern started contributing 5% of its taxable income to the Dayton Foundation.^[1]

Nelson Dayton was replaced every bit president by his son Donald afterward his expiry in 1950; he ran the company alongside four of his cousins instead of under a single person, and replaced the Presbyterian guidelines with a more secular approach. Information technology began selling alcohol and operating on Sundays, and favored a more radical, ambitious, innovative, costly, and expansive management style. The company acquired the Portland, Oregon-based Lipman'south department store company during the 1950s and operated information technology as a dissever division.^[three] In 1956, the Dayton Company opened Southdale Center, a two-level shopping center in the Minneapolis suburb of Edina. Considering in that location were merely 113 good shopping days in a year in Minneapolis, the architect built the mall under a comprehend, making it the world's beginning fully enclosed shopping mall. The Dayton Company became a retail chain with the opening of its second department store in Southdale.^[1]

1962–75: Founding of Target [edit]

While working for the Dayton visitor, John F. Geisse developed the concept of upscale disbelieve retailing. On May 1, 1962, the Dayton Company, using Geisse's concepts, opened its first Target discount store located at 1515 West County Road B in the Saint Paul suburb of Roseville, Minnesota. The proper name "Target" originated from Dayton's publicity director, Stewart K. Widdess, and was intended to forbid consumers from associating the new discount store chain with the department store. Douglas Dayton served as the first president of Target. The new subsidiary concluded its beginning yr with iv units, all in Minnesota. Target Stores lost money in its initial years only reported its starting time gain in 1965, with sales reaching $39 million, allowing a 5th store to open up in the Minneapolis suburb of Bloomington, Minnesota.^[four] By 1964 Dayton'due south was the second-largest privately owned section store chain in the state.^[5]

In 1966, Bruce Dayton launched the B. Dalton Bookseller specialty chain as a Dayton Company subsidiary.^[ii] Target Stores expanded outside of Minnesota by opening 2 stores in Denver, and sales exceeded $60 million. The first store congenital in Colorado in 1966,^[six] and the first outside of Minnesota, is located in Glendale, Colorado and is part of Denver Metropolitan area. The store was upgraded to a SuperTarget in 2003 and is still open.^[7] The next twelvemonth, the Dayton holdings were reorganized equally Dayton Corporation, and information technology went public with its first offer of common stock. It opened two more Target stores in Minnesota, resulting in a total of nine units.^[8] It acquired the San Francisco-based jeweler Shreve & Co., which it merged with previously acquired J.B. Hudson & Son to go Dayton Jewelers.^[1]

This SuperTarget in Roseville, Minnesota (Store #2101), sits on the site of the first Target store (Store #1), which opened in 1962 and was torn down and replaced by this much larger shop in 2005.

In 1968, Target changed its bullseye logo to a more modern expect, and expanded into St. Louis, Missouri, with two new stores. Target's president, Douglas J. Dayton, went back to the parent Dayton Corporation and was succeeded by William A. Hodder, and senior vice president and founder John Geisse left the company. Geisse was afterward hired by St. Louis-based May Department Stores, where he founded the Venture Stores concatenation. Target Stores ended the yr with xi units and $130 million in sales. It acquired the Los Angeles-based Pickwick Book Shops and merged it into B. Dalton Bookseller.^[9]

In 1969, the visitor acquired the Boston-based Lechmere electronics and appliances chain that operated in New England, and the Philadelphia-based jewelry chain J.E. Caldwell.^[1] Information technology expanded Target Stores into Texas and Oklahoma with six new units and congenital its first distribution center in Fridley, Minnesota.^[10] The Dayton Company merged with the Detroit-based J.L. Hudson Company that year, to go the Dayton-Hudson Corporation, the 14th largest retailer in the The states, consisting of Target and five major department shop bondage: Dayton'due south, Diamond's of Phoenix, Arizona, Hudson's, John A. Brown of Oklahoma City, Oklahoma, and Lipman'due south. The company offered Dayton-Hudson stock on the New York Stock Commutation. The Dayton Foundation inverse its proper noun to the Dayton Hudson Foundation, and Dayton-Hudson maintained its 5% donation of its taxable income to the foundation.^[1]

In 1970, Target Stores added seven new units, including two units in Wisconsin, and the 24-unit of measurement concatenation reached $200 million in sales. Dayton-Hudson said at the time that they could forecast their disbelieve store operations overshadowing their department store revenue in the near future.^[eleven] Dayton-Hudson acquired the Team Electronics specialty concatenation that was headed by Stephen L. Pistner.^[12] It acquired the Chicago-based jeweler C.D. Peacock, Inc., and the San Diego-based jeweler J. Jessop and Sons.^[one] Also in 1970 Dayton-Hudson purchased Ronzone's in Las Vegas, Nevada, to be converted to a Diamond'south store.^[13] Dayton-Hudson announces in Jan 1970 they will be ane of the tenants of the IDS Middle, the starting time modernistic era skyscraper built in Minneapolis, Minnesota, which would be their headquarters until 2000.^{[14] [15]} In 1971, Dayton-Hudson caused xvi stores from the Arlan'south section store chain in Colorado, Iowa, and Oklahoma. Two of those units reopened as Target stores that twelvemonth. Dayton-Hudson's sales across all its chains surpassed $1 billion, with the Target chain only contributing a fraction to information technology.^[1] In 1972, the other fourteen units from the Arlan'southward acquisition were reopened as Target stores to make a total of 46 units. As a result of its rapid expansion and the top executives' lack of feel in discount retailing, the chain reported its beginning decrease in profits since its initial years. Its loss in operational acquirement was due to overstocking and conveying goods over multiple years regardless of inventory and storage costs. By then, Dayton-Hudson considered selling off the Target Stores subsidiary. Dayton-Hudson caused 2 Twin Cities mail society firms in 1972, Sibley and Consolidated Merchandising.^[sixteen] In 1973, Stephen Pistner, who had already revived Team Electronics and would subsequently work for Montgomery Ward and Ames, was named main executive officer of Target Stores, and Kenneth A. Macke was named Target Stores' senior vice president. The new management marked down merchandise to clean out its overstock and allowed just ane new unit to open that year.

1975–81: Early on prosperity [edit]

Target owned Mervyn's from 1978 to 2004. Pictured here is the location at Boise Towne Square in Boise, Idaho (store #220). This location is now a Kohl's

In 1975, Target opened two stores, reaching 49 units in nine states and $511 million in sales. That year, the Target discount chain became Dayton-Hudson's top acquirement producer. In 1976 Dayton-Hudson was the eighth largest retailer in the U.Southward.,^[17] and Target opened four new units and reached $600 1000000 in sales. Macke was promoted to president and chief executive officer of Target Stores. Inspired by the Dayton Hudson Foundation, the Minneapolis Bedroom of Commerce started the 5% Club (now known as the Minnesota Keystone Program), which honored companies that donated v% of their taxable incomes to charities.^[1] In 1977, Target Stores opened seven new units and Stephen Pistner became president of Dayton-Hudson, with Macke succeeding him every bit chairman and chief executive officeholder of Target Stores. The senior vice president of Dayton-Hudson, Bruce G. Allbright, moved to Target Stores and succeeded Kenneth Macke every bit president. In 1978, the visitor acquired Mervyn's^[18] and became the seventh largest full general merchandise retailer in the United states of america. Target Stores opened eight new stores that year, including its beginning shopping mall ballast shop in One thousand Forks, North Dakota. In 1979, it opened 13 new units to a full of 80 Target stores in eleven states. Dayton-Hudson reached $3 billion in sales, with $1.12 billion coming from the Target shop concatenation alone.^[ane]

Dayton-Hudson sold its 9 owned shopping centers in 1978 to Equitable Life Assurance Company, including the 5 endemic in Michigan, and the 4 "Dales" shopping centers they developed and owned in Minnesota.^[20] In 1980, Dayton-Hudson sold its Lipman's section shop chain of six units to Marshall Field'due south, which rebranded the stores as Frederick & Nelson.^[3] That year, Target Stores opened seventeen new units, including expansions into Tennessee and Kansas. It acquired the Ayr-Way disbelieve retail concatenation of twoscore stores and one distribution heart from Indianapolis-based L.Due south. Ayres & Company. In 1981 Dayton-Hudson sold its interest in four regional shopping centers, again, to Equitable Life Assurance Company.^[21] Also in 1981, it reopened the stores caused in the Ayr-Style acquisition equally Target stores. Stephen Pistner left the parent visitor to join Montgomery Ward, and Kenneth Macke succeeded him as president of Dayton-Hudson.^[22] Floyd Hall succeeded Kenneth Macke as chairman and chief executive officer of Target Stores. Bruce Allbright left the company to piece of work for Woolworth, where he was named chairman and principal executive officer of Woolco. Bob Ulrich became president and main executive officer of Diamond'south Department Stores.^[23] In addition to the Ayr-Way acquisition, Target Stores expanded past opening fourteen new units and a 3rd distribution center in Footling Stone, Arkansas, to a total of 151 units and $2.05 billion in sales.

1982–99: Nationwide expansion [edit]

Since the launch of Target Stores, the company had focused its expansion in the central United states of america. In 1982, it expanded into the West Coast market by acquiring 33 FedMart stores in Arizona, California, and Texas and opening a fourth distribution center in Los Angeles.^[24] Bruce Allbright returned to Target Stores equally its vice chairman and chief administrative officeholder, and the chain expanded to 167 units and $2.41 billion in sales. It sold the Dayton-Hudson Jewelers subsidiary to Henry Birks & Sons of Montreal.^[1] In 1983, Kenneth Dayton, the last Dayton family member to work for Dayton-Hudson retired.^[25] Also in 1983, the 33 units acquired from FedMart were reopened as Target stores. It founded the Plums off-price apparel specialty store chain with iv units in the Los Angeles area, with an intended audience of heart-to-upper income women. In 1984, it sold its Plums chain to Ross Stores after only 11 months of functioning, and it sold its Diamond'southward and John A. Brown department store chains to Dillard's.^{[26] [27] [28]} Meanwhile, Target Stores added 9 new units to a total of 215 stores and $3.55 billion in sales. Floyd Hall left the company and Bruce Allbright succeeded him as chairman and master executive officeholder of Target Stores. In May 1984, Bob Ulrich became president of the Dayton-Hudson Section Shop Sectionalization, and in December 1984 became president of Target Stores.^[23] In 1986, the company acquired fifty Gemco stores from Lucky Stores in California and Arizona, which made Target Stores the dominant retailer in Southern California, as the chain grew to a total of 246 units. Information technology opened a fifth distribution center in Pueblo, Colorado. Dayton-Hudson sold the B. Dalton Bookseller chain of several hundred units to Barnes & Noble.^[2] At this time, Dayton-Hudson Corporation also started a housewares chain called R. G. Branden's, simply this operation was unsuccessful.^[29]

In 1987, the acquired Gemco units reopened every bit Target units, and Target Stores expanded into Michigan and Nevada, including six new units in Detroit, Michigan, to compete directly against Detroit-based Kmart, leading to a total of 317 units in 24 states and $5.iii billion in sales. Bruce Allbright became president of Dayton-Hudson, and Bob Ulrich succeeded him as chairman and chief executive officer of Target Stores.^[23] The Dart Group attempted a takeover bid by aggressively buying its stock.^[30] Kenneth Macke proposed half-dozen amendments to Minnesota'due south 1983 anti-takeover police, and his proposed amendments were passed that summer by the state'south legislature. This prevented the Dart Grouping from being able to call for a shareholders' meeting for the purpose of electing a board that would favor Sprint if their bid were to turn hostile.^[31] Dart originally offered $65 a share, and and so raised its offer to $68. The stock market crash of October 1987 ended Dart's attempt to take over the company, when Dayton-Hudson stock roughshod to $28.75 a share the day the marketplace crashed.^[i] Dart'southward move is estimated to have resulted in an later on-tax loss of well-nigh $70 one thousand thousand.^[32] In 1988, Target Stores expanded into the Northwestern United States by opening 8 units in Washington and iii in Oregon, to a full of 341 units in 27 states. It opened a distribution heart in Sacramento, California, and replaced the existing distribution center in Indianapolis, Indiana, from the Ayr-Way acquisition with a new one.^[33] In 1989, information technology expanded by 60 units, especially in the Southeastern Usa where it entered Florida, Georgia, North Carolina, and South Carolina, to a total of 399 units in 30 states with $seven.51 billion in sales. This included an acquisition of 31 more than stores from Federated Department Stores' Gold Circle and Richway bondage in Florida, Georgia, and North Carolina, which were afterwards reopened as Target stores.^[24] It sold its Lechmere chain that yr to a group of investors including Berkshire Partners, a leveraged buy-out firm based in Boston, Massachusetts, eight Lechmere executives, and two local shopping mall executives.^[10]

Target Greatland store in Mount Laurel, New Jersey prior to opening in 2004 (Store #1917). This has since converted into a regular Target with "PFresh".

In 1990, it acquired Marshall Field'due south from Batus Inc.,^[34] and Target Stores opened its showtime Target Greatland full general merchandise superstore in Apple Valley, Minnesota. By 1991, Target Stores had opened 43 Target Greatland units, and sales reached $nine.01 billion. In 1992, it created a short-lived chain of clothes specialty stores chosen Everyday Hero with 2 stores in Minneapolis.^[24] They attempted to compete confronting other apparel specialty stores such equally Gap past offering private label apparel such as its Merona make. In 1993, information technology created a chain of closeout stores chosen Smarts for liquidating clearance merchandise, such as private label apparel, that did non appeal to typical closeout chains that were only interested in national brands. Information technology operated iv Smarts units out of former Target stores in Rancho Cucamonga, California, Des Moines, Iowa, El Paso, Texas, and Indianapolis, Indiana, that each closed out trade in nearby distribution centers.^[35] In 1994, Kenneth Macke left the company, and Bob Ulrich succeeded him as the new chairman and CEO of Dayton-Hudson.^[12] In 1995, Target Stores opened its start SuperTarget hypermarket in Omaha, Nebraska. It closed the four Smarts units after simply two years of performance.^[35] Its store count increased to 670 with $fifteen.vii billion in sales.^[36] It launched the Target Guest Card, the disbelieve retail manufacture'due south beginning shop credit card.^[1]

In 1996, J.C. Penney Company, Inc., the fifth-largest retailer in the United states of america, offered to buy out Dayton-Hudson, the fourth largest retailer, for $6.82 billion. The offering, which most analysts considered as insufficiently valuing the company, was rebuffed past Dayton-Hudson, saying it preferred to remain independent.^{[1] [37]} Target Stores increased its store count to 736 units in 38 states with $17.8 billion in sales, and remained the company'southward master area of growth while the other two section store subsidiaries underperformed.^[36] The centre calibration Mervyn'due south section store chain consisted of 300 units in 16 states, while the upscale Department Stores Sectionalization operated 26 Marshall Field'south, 22 Hudson'south, and 19 Dayton's stores.^[1] In 1997, both of the Everyday Hero stores were closed.^[38] Target's shop count rose to 796 units, and sales rose to $20.2 billion.^[36] In an effort to plough the section shop chains effectually, Mervyn's closed 35 units, including all of its stores in Florida and Georgia. Marshall Field'south sold all of its stores in Texas and closed its store in Milwaukee.^[1]

In 1998, Dayton-Hudson caused Greenspring Company'due south multi-itemize straight marketing unit, Rivertown Trading Visitor, from Minnesota Communications Grouping, and it caused the Associated Merchandising Corporation, an apparel supplier.^{[39] [40]} Target Stores grew to 851 units and $23.0 billion in sales.^[36] The Target Invitee Card program had registered 9 million accounts.^[1]

In 1999, Dayton-Hudson acquired Fedco and its ten stores in a move to expand its SuperTarget operation into Southern California. Information technology reopened six of these stores nether the Target brand and sold the other four locations to Wal-Mart, Dwelling Depot, and the Ontario Law Department, and its store count rose to 912 units in 44 states with sales reaching $26.0 billion.^{[36] [41]} Acquirement for Dayton-Hudson increased to $33.7 billion, and cyberspace income reached $1.14 billion, passing $1 billion for the first time and most tripling the 1996 profits of $463 million. This increase in profit was due mainly to the Target chain, which Ulrich had focused on making characteristic loftier-quality products for low prices.^[1] On September seven, 1999, the company relaunched its Target.com website as an e-commerce site as function of its discount retail division. The site initially offered trade that differentiated its stores from its competitors, such as its Michael Graves brand.^[42]

2000–eleven: Target Corporation [edit]

Map of Target stores in United States, as of Dec 2020

In January 2000, Dayton-Hudson Corporation changed its name to Target Corporation and its ticker symbol to TGT; by then, between 75 percent and lxxx percent of the corporation's total sales and earnings came from Target Stores, while the other four bondage—Dayton's, Hudson'south, Marshall Field's, and Mervyn'due south—were used to fuel the growth of the discount chain, which expanded to 977 stores in 46 states and sales reached $29.7 billion by the end of the year. It separated its e-commerce operations from its retailing division, and combined it with its Rivertown Trading unit into a stand up-alone subsidiary called target.direct.^[43] It started offer the Target Visa, as consumer trends were moving more than towards tertiary-party Visa and MasterCards and away from private-label cards such every bit the Target Guest Bill of fare.^[1]

In 2001, it launched its online souvenir registry, and in grooming for this, information technology wanted to operate its upscale Section Stores Division, consisting of 19 Dayton's, 21 Hudson's, and 24 Marshall Field's stores, nether a unified section store proper name. It announced in January that it was renaming its Dayton's and Hudson's stores to Marshall Field'southward. The name was chosen for multiple reasons: out of the three, Marshall Field's was the almost recognizable name in the Department Stores Division, its base in Chicago was bigger than Dayton's base in Minneapolis and Hudson's base in Detroit, Chicago was a major travel hub, and it was the largest chain of the iii.^[1] Target Stores expanded into Maine, reaching 1,053 units in 47 states and $33.0 billion in sales.^{[36] [44]} Around the aforementioned time, the chain made a successful expansion into the Pittsburgh marketplace, where Target capitalized on the collapse of Ames Department Stores that coincidentally happened at the same fourth dimension as Target's expansion into the area.

In 2002, it expanded to 1,147 units, which included stores in San Leandro, Fremont, and Hayward, California, and sales reached $37.four billion. Almost of those locations replaced former Montgomery Ward locations, which closed in 2001. In 2003, Target reached 1,225 units and $42.0 billion in sales. Despite the growth of the disbelieve retailer, neither Marshall Field's nor Mervyn's were adding to its store count, and their earnings were consistently failing. Marshall Field'due south sold ii of its stores in Columbus, Ohio, this year.^[one] On June nine, 2004, Target Corporation announced its auction of the Marshall Field's chain to St. Louis-based May Department Stores, which would get effective July 31, 2004. As well, on July 21, 2004, Target Corporation announced the $1.65 billion sale of Mervyn's^[45] to an investment consortium including Dominicus Capital letter Partners, Cerberus Upper-case letter Management, and Lubert-Adler/Klaff and Partners, L.P., which was finalized September ii. Target Stores expanded to 1,308 units and reached US$46.8 billion in sales. In 2005, Target began operation of an overseas technology office in Bangalore, Bharat.^[46] Information technology reached one,397 units and $52.6 billion in sales. In February 2005, Target Corporation took a $65 million charge to change the way it accounted for leases, which would reconcile the fashion Target depreciated its buildings and calculated rent expense. The adjustment included $10 1000000 for 2004 and $55 million for prior years.^[47]

In 2006, Target completed structure of the Robert J. Ulrich Centre in Embassy Golf Links in Bangalore, and Target planned to continue its expansion into India with the structure of additional office infinite at the Mysore Corporate Campus and successfully opened a branch at Mysore.^[46] It expanded to i,488 units, and sales reached $59.iv billion.^[48] On January 9, 2008, Bob Ulrich announced his plans to retire as CEO, and named Gregg Steinhafel every bit his successor. Ulrich'due south retirement was due to Target Corporation policy requiring its high-ranking officers to retire at the historic period of 65. While his retirement as CEO was constructive May 1, he remained the chairman of the lath until the end of the 2008 fiscal year. On March four, 2009, Target expanded exterior of the continental U.s.a. for the first time. Two stores were opened simultaneously on the island of Oahu in Hawaii, along with two stores in Alaska. Despite the economic downturn, media reports indicated sizable crowds and brisk sales. The opening of the Hawaii stores left Vermont as the just state in which Target did not operate. In June 2010, Target announced its goal to give $ane billion to didactics causes and charities by 2015. Target School Library Makeovers is a featured program in this initiative. In August 2010, after a "lengthy wind-downward", Target began a nationwide closing of its remaining 262 garden centers, reportedly due to "stronger contest from home-improvement stores, Walmart and contained garden centers". In September 2010, numerous Target locations began calculation a fresh produce department to their stores.^[49]

In 2007, Target built its showtime food distribution center in Lake City, Florida, which opened in 2008.^[50]

2011–2015: Initiatives, Canada and Data Breach [edit]

On January 22, 2014, Target "informed workers that it is terminating 475 positions at its offices globally."^[51] On March v, 2014, Target Corp.'southward Chief Information Officer Beth Jacob resigned, having been in the role since 2008; this is thought to be due to the company'southward overhaul of its data security systems.^[52]

On June xv, 2015, CVS Health announced its agreement to acquire Target'due south pharmacy and retail clinic businesses. The deal expanded CVS to new markets in Seattle, Denver, Portland and Salt Lake City. The conquering includes more 1,660 pharmacies in 47 states. CVS will operate them through a store-inside-a-store format. Target's about 80 clinic locations volition be rebranded as MinuteClinic, and CVS plans to open up to 20 new clinics in their stores inside three years.^[53]

In July 2015, the company opened Target Open House, a retail infinite in San Francisco that shows connected abode products which can purchased at select Target stores.^{[54] [55]} The space, located in the Metreon Shopping Eye, adopts the same layout as a firm so information technology can prove real world use cases for the showcased products.^[56] In addition, the space hosts interviews with company founders which have their products on display at the store.^[57]

Target Canada [edit]

On January 13, 2011, Target announced its expansion into Canada, when it purchased the leaseholds for upwardly to 220 stores of the Canadian sale concatenation Zellers, owned past the Hudson'due south Bay Company. The bargain was announced to take been made for i.viii billion dollars. The company stated that they aimed to provide Canadians with a "truthful Target-brand experience", hinting that its product selection in Canada would vary little from that found in its U.s. stores.

Target opened its first Canadian stores in March, 2013, and at its summit, Target Canada had 133 stores. However, the expansion into Canada was aggress with problems, including supply chain bug that resulted in stores with aisles of empty shelves and higher-than-expected retail prices. Target Canada racked up losses of $2.1 billion in its brusk life, and the store'south botched expansion was characterized by the Canadian and US media as a "spectacular failure",^[58] "an unmitigated disaster",^{[59] [60]} and "a gold standard case study in what retailers should not do when they enter a new market."^[61]

On January 15, 2015, Target announced that all 133 of its Canadian outlets would be closed and liquidated by the end of 2015.^[62] The last Target Canada stores closed on April 12, 2015, far ahead of the initial schedule.^[lx]

2013 security breach [edit]

On Dec xviii, 2013, security expert Brian Krebs broke news^[63] that Target was investigating a major data breach "potentially involving millions of customer credit and debit menu records." On Dec 19, Target confirmed the incident via a press release,^[64] revealing that the hack took place between Nov 27 and December 15, 2013. Target warned that upwardly to xl million consumer credit and debit cards may have been compromised. Hackers gained admission to client names, card numbers, expiration dates, and CVV security codes of the cards issued by financial institutions. On Dec 27, Target disclosed that debit carte du jour PIN data had besides been stolen, albeit in encrypted form, reversing an earlier stance that PIN information was not part of the alienation. Target noted that the accessed Pivot numbers were encrypted using Triple DES and has stated the PINs remain "safe and secure" due to the encryption.^[65] On Jan 10, 2014, Target disclosed that the names, mailing addresses, telephone numbers or electronic mail addresses of upwardly to 70 million additional people had besides been stolen, bringing the possible number of customers affected upward to 110 million.^[66]

According to Bloomberg Businessweek, Target's reckoner security team was notified of the alienation via the FireEye security service they employed, had aplenty fourth dimension to disrupt the theft of credit cards and other customer data, but did non act to prevent theft from being carried out.^[67]

Target encouraged customers who shopped at its Us stores (online orders were not affected) during the specified timeframe to closely monitor their credit and debit cards for irregular activity. The retailer confirmed that it is working with law enforcement, including the United States Secret Service, "to bring those responsible to justice." The data breach has been chosen the second-largest retail cyber set on in history,^[68] and has been compared to the 2009 non-retail Heartland Payment Systems compromise, which afflicted 130 million credit cards, and to the 2007 retail TJX Companies compromise, which afflicted ninety meg people.^[69] As an apology to the public, all Target stores in the United States gave retail shoppers a 10% storewide discount for the weekend of December 21–22, 2013. Target has offered free credit monitoring via Experian to affected customers.^{[70] [71]} Target reported total transactions for the same time last year were downwards 3-4%, every bit of December 23, 2013.^{[72] [73]}

According to Time Magazine, a 17-twelvemonth-quondam Russian teen was suspected to be the writer of the Point of Sale (POS) malware program, "BlackPOS", which was used by others to assault unpatched Windows computers used at Target.^[74] The teen denied the allegation.^[75] Later on, a 23-year-erstwhile Russian, Rinat Shabayev, claimed to be the malware author.^{[75] [76]}

On January 29, 2014, a Target spokeswoman said that the individual(southward) who hacked its customers' data had stolen credentials from a shop vendor, but did not elaborate on which vendor or which credentials were taken.^[77]

As the fallout of the data alienation connected, on March 6, 2014, Target appear the resignation of its Chief Information Officer and an overhaul of its data security practices. In a further step to restore faith in customers, the visitor brash that it volition look externally for appointments to both the CIO office and a new Main Compliance Officer part.^[78]

On May 5, 2014, Target announced the resignation of its chief executive officer, Gregg Steinhafel. Analysts speculated that the data breach, equally well every bit the financial losses caused by over-aggressive Canadian expansion, contributed to his departure.^[79]

2016–present [edit]

On Oct 2, 2017, Target appear a new online order service, known as Drive Upwardly, which allows guests to gild merchandise online for pickup exterior the store. Guests striking the 'I'g on My Way' push button when they are en route to their shop. They pull into designated parking spots out forepart, and soon a Target team member comes out to greet them with their gild.^[fourscore]

On October 19, 2017, Target announced that they will be opening a minor-format store and their showtime store in Vermont in the University Mall in South Burlington in Oct 2018.^[81] The store replaced the former Bon-Ton (originally Almy'due south and later Steinbach), which closed in January 2018.

In Dec 2017, Target announced the corporation's intention to purchase Shipt, an internet-based grocery delivery service for a reported $550 million. The conquering is intended to assistance same-mean solar day delivery and to improve compete with Amazon.^[82] Target announced in February 2018 that it would shift its sales model for meaty discs, DVDs, and Blu-ray Discs to provide them solely on a contingency basis, citing reduced physical media sales in favor of digital downloads and streaming.^[83]

In May 2018, according to YouGov ratings was Target adamant to exist the most pop department store in America. Target was rated 69% positive opinions by America, and 99% of people take heard of information technology. Women had a 74% positive stance towards Target and men had 65%.^{[84] [85]}

On a weekend in June 2019, at a large number of Target stores in the U.S., "On Saturday ... shoppers experienced a systems outage that shut downwards the card readers at bank check-out registers for close to two hours. On Sunday, there were additional spot outages that the company says were unrelated to Saturday'due south bug."^[86] Another—although much shorter—checkout annals crash happened in 2013, on the aforementioned date as the Sabbatum crash.^[86]

Target Circle cart corral imprint at the Spring Hill Target store (T0919) in Spring Hill, Florida, in October 2019.

In September 2019, Target announced its new rewards programme, Target Circle, would exist coming to all Target stores on Oct 6, 2019. In conjunction, the proper name of the store'southward credit and debit card was appear to exist inverse from "Target REDcard" to "Target RedCard." At its debut, Target Circumvolve allows for shoppers to earn i% dorsum in rewards to use on a hereafter purchase, except when a Target RedCard is used. Target RedCard holders keep to salvage an instant 5% on their total but now earn votes from a purchase with Target Circle to use on deciding where Target gives its 5% back in the community. The Target Circle rewards program does not utilize a physical card, but can exist used past presenting the Target Wallet in the Target App or by entering a mobile telephone number at checkout.

On August 25, 2019, Target and The Walt Disney Visitor announced a partnership to take a Disney Store in several Target locations. The Disney Store at Target locations accept a "shop-in-store" layout with an boilerplate square anxiety of 750.^{[87] [88]} Tru Kids and Target also announced a partnership on October eight, 2019, to relaunch the website of Toys "R" Us Toysrus.com. When a customer goes on Toysrus.com to buy a product information technology is redirected to Target.com to complete the social club. The website allows Toys "R" United states of america to have an online presence, after bankruptcy, and at the same fourth dimension adds a boost to Target's sales in toys.^[89]

On March 13, 2020, Brian Cornell (CEO) took role in Former President Trump's address on the COVID-19 pandemic. Target, along with competitors Walmart, CVS Pharmacy, and Walgreens, would take part in using their stores for testing of COVID-19.^{[xc] [91]} On July sixteen, 2020, Target joined other major retailers in requiring all customers to wear masks in its U.S. stores.^[92]

On March 14, 2021, a Target on 1249 Simpson Avenue in Salt Lake City, Utah opened, which replaced an sometime Nordstrom Rack that moved into a edifice that used to be a Toys R Us at the Sugarhouse Shopping Heart that closed in 2016.

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Source: https://en.wikipedia.org/wiki/History_of_Target_Corporation

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