Topics: Target Corporation, Department store, Dayton's Pages: 10 (3466 words) Published: July 15, 2013
Target is a chain of discount stores that are about 95,000 to 135,000 square feet (12,000 m²) and carry hardlines, softlines (clothing), and a limited amount of groceries, mostly non-perishable. Specifically, Target stores carry clothing, shoes, jewelry, health and beauty products, electronics, compact discs, DVDs, bedding, kitchen supplies, sporting goods, toys, pet supplies, automotive supplies, and hardware supplies. They also carry seasonal merchandise such as patio furniture during the summer and Christmas and Chanukah decorations during November and December. Many stores, depending upon location, may also have Target Optical, Target Clinic, and a portrait studio. Most new locations built after 2004 include Target Photo, Target Pharmacy, Starbucks Coffee, Jamba Juice, and/or a Pizza Hut Express standard in addition to "Target Café". It has also been reported that Cold Stone Creamery and Target have signed a deal to test in-store ice cream shops in three stores.In early 2010 Target updated all references from "Food Avenue" to "Target Café".

The Target Corporation, originally the Dayton Dry Goods Company and later the Dayton Hudson Corporation, is an American retailing company, founded in 1902 and headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, preceded by Walmart.The company is ranked at number 38 on the Fortune 500 as of 2012 and is a component of the Standard & Poor's 500 index. Its bullseye trademark is licensed to Wesfarmers, owners of the separate Target Australia chain which is unrelated to Target Corporation. The first Target store was opened in 1962 in nearby Roseville, Minnesota. Target grew and eventually became the largest division of Dayton Hudson Corporation, culminating in the company being renamed as Target Corporation in August 2000. On January 13, 2011, Target announced its expansion into Canada. Target Canada operates over 100 stores as of 2013, through its purchase of leaseholds from the

Canadian chain Zellers.

1902–62: Dayton's Dayton Dry Goods Company was founded in 1902 by George Draper Dayton, a banker who built his wealth by buying farm mortgages in southwest Minnesota and an active member of the Westminster Presbyterian Church in downtown Minneapolis. During the Panic of 1893 which caused a decline in retail estate prices, the Westminster Presbyterian Church burned down, and because its insurance wouldn't cover the cost of a new building, the church was looking for revenue. Its congregation appealed to Dayton to buy the empty corner lot next to the demolished building from the church so it could rebuild. Dayton bought it and eventually constructed a six-story building on that corner lot in downtown Minneapolis.

By the 1920s, the Dayton Company was a multi-million dollar business that had filled the entire six-story building. In 1923, Dayton's 43-year-old son David died, prompting George to start deferring parts of his business to another son, Nelson Dayton. Right before the Wall Street Crash of 1929, it made its first expansion by acquiring the Minneapolis-based jeweler, J.B. Hudson & Son. Throughout the Great Depression, its jewelry store operated in a net loss, yet its department store managed to weather the economic crisis. In 1938, George Dayton died and Nelson Dayton assumed the role of president of the Dayton Company, a $14 million business. Throughout his tenure, the strict Presbyterian guidelines and conservative management style his father ran the company on were maintained. Throughout World War II, Nelson Dayton's managers focused on keeping the store stocked, which led to an increase in revenue. Consumer goods were generally rare, so shoppers no longer had to be persuaded to buy whatever merchandise was available. When the War Production Board initiated its scrap metal drives, Dayton donated the electric sign on the department store to the local scrap metal heap. In 1944, it offered its workers a retirement...
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