About

History:target

From our department store roots to the upcoming debut of our stores in Canada, our history reveals our passion for innovation and creating great shopping experiences.

In 1902, John Dayton completed construction of a six-story building located in downtown Minneapolis; he successfully rented out the edifice to R.S. Goodfellow Company. The company moved its department store to Daytons’ building. A year later, Goodfellow the storeowner retired and sold his share to Dayton. In 1903, Dayton renamed Goodfellow’s department store to Dayton Dry Goods Co.

Dayton’s store enjoyed success in Minneapolis and in 1950, purchased Lipmans Department Store Company of Portland, Oregon. However, Dayton did not integrate it with his existing enterprise but operated Lipmans as a separate company. Dayton then opened his first store in Edina, Minnesota – Southdale, the world’s first fully enclosed department store in 1956.

In 1962, Dayton Company ventured into discount merchandising with its first Target discount store in Roseville, Minnesota. By the end of the year, Dayton formed a new subsidiary – Target Stores. Initially, there were only four Target retail stores, all operating in Minnesota.

In 1968, Target Stores expanded into Missouri, opening two stores in St. Louis. In the same year, Target’s parent company, Dayton, merged with JL Hudson Company of Detroit and became Dayton-Hudson Corporation.  Eventually in 2000, Dayton-Hudson changed its name to Target Corporation, with the Target chain of stores as the main source of the company’s sales.

Presently, Target Stores now has 1,591 retail stores all over the U.S., except for Hawaii, Vermont, and Alaska. In 2007, it made $63.37 billion revenue.

Fun Fact: “Tar-zhay”  Is the affectionate nickname, coined the year we opened our very first store

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