Are You Know Target Owns? Yes Or No

Originally posted on August 24, 2022 @ 4:10 am

Who owns the target? (Know) Written by Join Grocery Stores
Who owns the target?
Target is one of America’s largest retailers, with nearly 2,000 large retail stores. However, many people do not know who owns them.

Target Corporation owns Target. However, prior to 2000, Target’s parent company was Dayton-Hudson Corporation, and before that Dayton Corporation. Today, Target has more than 340,000 employees, with a location within a 10-mile radius of 75% of Americans.

Read on to discuss the incredible growth of this popular discount retailer, including the reason behind the common misconception that Walmart owns them.

When was the target established?

Even since its founding in 1962, Target and its trademark bull’s eye logo have become synonymous with retail in America.

When Dayton Corporation decided to dive into the discount retail business on a large scale, its vision was to provide a great shopping experience with the best deals.
Target’s idea was to combine quality with convenience, which meant multiple departments with wide aisles and quick checkouts with one-stop shop discount prices. With that foresight, Target first opened its doors in Minnesota in 1962. Its excellent quality and discount prices forever changed how consumers viewed discount stores.

Fun fact: The target effect is spending a lot of money or buying more things than you originally intended, like what happens when you go to Target. This phenomenon is so common that it earned a place in the urban lexicon.

The Dayton-Hudson Corporation

It only took a few years for Target to expand beyond Minnesota. And this expansion continued when the Dayton Corporation merged with the JL Hudson Company, and the Dayton Hudson Corporation was born in 1969.

A few years later, Target stores across the country began to look the same. This standardization was not only limited to the store’s color scheme and layout, but also to employee uniforms. Eventually, Target grew in popularity, and it soon became the top revenue generator for its parent company, achieving its first billion-dollar annual sales in 1979.

The Target Corporation

From then on, there was no stopping target. From company-owned brands to online shopping to new store formats, the retailer thrived under the Dayton-Hudson banner until it was renamed Target Corporation in 2000. The move was to highlight the core business of the company. Since then, Target stores have been operated under the name Target Corporation, constantly innovating to provide the best experience for their customers and to be one of the best employers in the country.

Who is the current CEO of Target?

As of 2022, Target’s CEO and chairman of the board is Brian Cornell, who took over in 2014. He succeeded Greg Steinhafel after the Target data breach and his failed venture in Canada. Prior to joining Target, Cornell was CEO of PepsiCo Americas Foods.

Brian’s role as Target CEO has won him several honors, including CNN’s Top CEO of the Year and the National Retail Federation’s 2022 “Visionary” title.

Why do people think Walmart is a target?

Many people have the misconception that Walmart owns Target. However, this is not true. So, why do people think Walmart owns Target? There could be a couple of reasons for this.

One is that Walmart owns several companies, but Target is not one of them. The false assumption that Walmart owns Target may also be due to a previous 2015 announcement of plans to buy several Target Canada stores and a distribution center after Target pulled out following Walmart’s failed plan. It was reported. The objective was to renovate, set up, and staff the stores. Note that Target Canada is now defunct.

What was Target’s first proprietary brand?

Target’s growth has been nothing short of monumental. Target is particularly proud of its private brands, known as “Owned Brands”. By 2022, there are more than 45 proprietary brands, covering everything from apparel to activewear to food and arts and crafts. However, the first Target-owned brand was officially introduced in 1984, called Honors. It was a casual clothing line and paved the way for all other private labels to hit stores.

When Did Target Introduce Online Shopping?

Target understood the need for online shopping and began selling some of its merchandise through its website in 1998. Earlier the website – Target Online – was used for post-marketing and other informational content. Officially, its e-commerce website was launched in 1999, where people could buy merchandise without visiting a store. Initially, Target Online focused more on selling gifts and sporting goods.

Different Target Store Formats and Their Introduction Timeline

Target has experimented with different store formats over the years, wider than their standard store layout and, more recently, smaller to cater to urban consumers. Here are Target’s different store formats and the years they were introduced.

  • Target Greatland: Bigger layout than standard stores with expanded services and food avenue; introduced in 1990
  • SuperTarget: Bigger than the Greatland format, came with a fresh produce section; introduced in 1995.
  • CityTarget: Aimed at catering to urban consumers in a smaller store format; introduced in 2012
  • TargetExpress: Covered an even smaller area than CityTarget for business in places with limited space; introduced in 2014

In 2015, Target announced that its stores would be called Target regardless of their size.

The Bottom Line

Target is owned by Target Corporation, which began as Dayton Corporation and later changed to Dayton-Hudson Corporation in 1969. Target’s parent company changed to its current name, Target Corporation, in 2000.

 

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