Target Strategic Analysis

Topics: Target Corporation / Pages: 18 (4446 words) / Published: Apr 22nd, 2013
Corina Nava Pelton
Strategic Management
March, 2013
Chris Canolis

I. Target Corporation American retailing company headquartered in Minneapolis, Minnesota. Target is the second-largest discount retailer in the United States, behind Wal-Mart. The Target chain discount stores range from 95,000 to 135,000 square feet. Super Target chain hypermarkets are approx. 174,000 sq. ft.
Target’s beginnings
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.
1902, Dayton, looking for tenants, convinced Reuben Simon Goodfellow Company to move its nearby Goodfellow department store into his newly-erected building. Goodfellow retired and sold his interest in the store to Dayton. The store 's name was changed to the Dayton Dry Goods Company in 1903.
1923, Dayton 's 43 year old son David died, prompting George to start deferring parts of his business to another son, Nelson Dayton.
1938, George Dayton passed away and Nelson Dayton assumed the role of president of the Dayton Company, a $14 million business.
1944, it offered its workers a retirement policy, becoming one of the first stores in the United States to do so.
1962 the Dayton Company, using John F. Geisse 's concepts,(American Business Man who launched successful retail chains), opened its first Target discount store located at 1515 West County Road B in the Saint Paul suburb of Roseville, Minnesota.
1969, in the same year, Target’s parent company, Dayton, merged with JL Hudson Company of Detroit and became Dayton-Hudson Corporation.
1978, the company acquired Mervyns and became the 7th



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