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Target's original bullseye logo, used from 1962 until 1968 [1]. The history of Target Corporation first began in 1902 by George Dayton.The company was originally named Goodfellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910.
The first Target Greatland location opened in Apple Valley, Minnesota, in September 1990. They were about 50% larger than traditional Target stores, and pioneered company standards, including an increased number of checkout lanes and price scanners, larger aisles, expanded pharmacy and photography departments, and a food court.
By 1992, the number of Target stores had doubled during Ulrich's tenure, to just over 500, with just shy of fifty more opening each year. In 1994, Kenneth Macke retired as chairman and chief executive of Target's parent company, Dayton Hudson Corporation, and Ulrich succeeded him in the position.
By 1975, Target was the company's top revenue producer and by the end of the 1970s annual sales exceeded $1 billion. [1] In 2000, the parent company took the Target name from its stores. [5] At the time of Dayton's death, the company he once led was the 36th largest company in the United States. [2]
Steinhafel received a severance package of $61 million and agreed to "remain employed by Target in an advisory capacity to assist with the transition through no later than August 23, 2014." [10] Steinhafel is a Director, Member of Nominating and Governance Committee and Member of Compensation & Human Resources Committee for The Toro Company.
Shipt is an American delivery service owned by Target Corporation.It is headquartered in Birmingham, Alabama.. In December 2017, it was announced that Target Corporation was acquiring Shipt for $550 million and that it would operate as an independent subsidiary following the acquisition.
In 2022, Target announced [12] that their board of directors had eliminated the company’s mandatory retirement policy that would have forced the CEO to retire at age 65. In 2023, Cornell's total compensation at Target was $18.1 million, or 719 times the median employee pay at Target for that year. [ 13 ]
Target Canada Co. was a short-lived Canadian subsidiary of the Target Corporation, the eighth-largest retailer in the United States.Formerly headquartered in Mississauga, Ontario, the subsidiary formed with the acquisition of Zellers store leases from the Hudson's Bay Company (HBC) in January 2011.