US Markets Loading H M S In the news. Target can trace its retail lineage back to the dawn of the 20th century. Its founder was a businessman named George Dayton.
Dayton initially made a foray into the dry goods game, only to pivot to the department store business. By the s, however, the Dayton Company was looking to experiment with a discount chain. Visit Business Insider's homepage for more stories. Businessman George Dayton first dipped into the department store business in , when he became a partner in Minneapolis' Goodfellow's Dry Goods Company, according to Target's website.
By , he bought up the entire business and renamed it the Dayton Dry Goods Company. Eight years later, the company was re-dubbed the Dayton Company. The department store business thrived in the Roaring Twenties and also endured the Great Depression, although its founder and namesake did pass away in at the age of Dayton's son George N. Dayton took the helm of the company that his father founded, followed by his son Donald 12 years later.
The Dayton Company began looking further than the city of Minneapolis in , according to Target's website. That's the year that the first Dayton's location opened up in Rochester, a Minnesota city about an hour and a half away from Minneapolis. That march to the suburbs continued throughout the s, as the company that would ultimately become Target expanded into shopping malls in the region around Minneapolis. Since , the corporation has given 5 percent of its profit to our communities to fight hunger, aid disaster preparedness and relief efforts, support the arts and put more kids on the path to graduation.
CityTarget stores offer commuters, tourists and urban dwellers the same one-stop shopping convenience of a typical Target store but in a smaller format that's tailored to an urban neighborhood. Plus, guests will find an assortment that's the right size for city-dwellers so no worries about lugging jumbo-packs of paper towels on the bus and, in typical Target fashion, innovative store features like a digital wall and redesigned navigational signs to help to our multilingual guests find what they need quickly.
Target celebrates 50 years since its first store opened in and years since the Dayton's Dry Goods Company—now Target Corporation—was created. In March, we welcome Canadian guests into our first stores north of the border, the culmination of an unprecedented international expansion. Another milestone: with the opening of stores across Canada throughout the year, we mark our largest ever single-year of store openings—even more than our entire first decade of business!
Our entry into Canada is achieved by thousands of team members collaborating around the world. This limited-time-only collection, available just in Canada, allows us the opportunity to introduce ourselves—and our celebrated design collaborations—to our new guests.
We open three new CityTarget locations—in Los Angeles, Portland and San Francisco—continuing to bring a big box shopping experience to the urban core, and making it easier for city dwellers to get the everyday essentials they need quickly and conveniently. These companies give our guests more of what they want—additional product, content and choices—in categories that are most important to them.
Target introduces Cartwheel, a first-of-its-kind digital coupon app developed in partnership with Facebook. Cartwheel allows guests to save on hundreds of items throughout our stores. We have a new team at the Target Technology Innovation Center: San Francisco, and they are helping us stay ahead of the curve and be better connected to existing Silicon Valley partners and new technology startups. To continue offering guests more healthy grocery options, we formulate a new owned brand food collection, Simply Balanced, free of artificial flavors, colors, preservatives and common food additive ingredients.
A number of the products are organic, and the vast majority is made without GMO ingredients. For Simply Balanced products that are not certified organic, we are in the process of removing GMO ingredients.
In July, we join the Bipartisan Policy Center and other North American retailers in announcing the Alliance for Bangladesh Worker Safety and the launch of the Bangladesh Worker Safety Initiative, a binding agreement focused on elevating safety conditions for garment workers across Bangladesh through measurable, sustainable actions. The alliance has already achieved major milestones in the areas of safety standards, training curriculum and empowering worker voices.
Douglas J. Dayton, the first president of Target Stores, passes away on July 5. Along with his brothers and cousin, Doug was instrumental in helping to guide the strategic direction of Dayton Hudson Corporation for many years and institutionalize the values that are at the heart of Target Corporation today.
Throughout his life, Doug was also known for his passion for volunteerism. Shopping for baby-care products becomes easier for guests with the launch of Target Subscriptions, a program that lets guests order nearly baby-related products like diapers and formula on a recurring schedule. The program is so well received that Target Subscriptions expands to include nearly 4, convenience items like paper towels, coffee K Cups, health, pet, and home office products.
We introduce the Target Sustainable Product Standard, developed over the last two years in partnership with industry experts, vendors and NGOs, to help establish a common language, definition and process for qualifying what makes a product more sustainable. Target launches a Store Pickup program, where guests can choose from more than 40, items across a range of merchandise categories, order them online and pick them up at a nearby Target store in as little as a few hours.
We also test a Ship from Store option, allowing guests to order online for same day or next day rush delivery, or faster standard delivery. Back in , we set a goal for our team: to track , collective service hours annually by the end of In , our dedicated volunteers not only reach the milestone, they exceed it two years ahead of schedule, tracking more than 1 million total hours in their communities.
In mid-December , Target learns that criminals forced their way into our system, gaining access to guest credit and debit card information. As the investigation continues, it is determined that certain guest information was also taken. Target partners with a leading third-party forensics firm to thoroughly investigate the breach. In , Target will enable all REDcards with chip-and-PIN technology and begin accepting payments from all chip-enabled cards in its stores.
Sponsors in motorsports come and go, but Target and Chip Ganassi Racing TCGR have been together for 25 consecutive seasons, one of the longest current partnerships in racing history. Thanks to a team-centric philosophy and a drive for continuous innovation, TCGR has crossed many finish lines together over the years, resulting in more than wins and making Target one of the most recognizable brands of victory lane. In March, Target introduces Made to Matter — a first-of-its-kind partnership and collection from leading natural, organic and sustainable brands.
The new Made to Matter collection features more than new and exclusive products from a crew of trusted companies, taking the guesswork out of buying better-for-you products. New payment terminals are now in all 1, U.
Steinhafel steps down from his positions as Chairman of the Target board of directors, president and CEO. Roxanne S. The board notes their gratitude to Steinhafel for his significant contributions and outstanding service throughout his notable year career with the company. His passion for the team and relentless focus on the guest established Target as a leader in the retail industry. The first TargetExpress, our newest small-format store, opens its doors to guests in July in the Dinkytown neighborhood of Minneapolis.
Paul, Minn. These stores will offer everyday essentials and unexpected must-haves as part of an assortment tailored to each neighborhood. In August, Target joins several other national companies to sign on to an amicus brief in support of marriage equality, currently pending in the Seventh Circuit.
This brief evaluates the issues created by states that both prohibit same-sex marriage and also refuse to recognize marriages that were conducted legally in other states. This position is particularly challenging for a large organization that operates nationally, as we do. At Target, we have long offered comprehensive, competitive benefits to our LGBT team members and their families, often above what is legally required.
We continue to do so today because we believe doing so is right for our team and for our business. But current laws—in places like Wisconsin and Indiana that are addressed in this brief—make it difficult to attract and retain talent. We believe that everyone—all of our team members and our guests—deserve to be treated equally.
Cornell most recently served as the chief executive officer of PepsiCo Americas Foods. We celebrate the 15th anniversary of Target House at St. Through St. Jude for treatment, travel, housing or food. Target and TOMS team up on a limited-edition collection for the holidays. The number of books 1. But beyond the numbers, what stands out the most is the positive impact on communities rallying together to create change, support one another and transform outdated spaces into state-of-the-art learning centers with complete technology updates.
The Target Style campaign launches in February, featuring a series of super-stylish TV spots that run throughout the year, including during big pop culture events like the Saturday Night Live 40th Anniversary Special. This year, we welcome new leaders to the team and congratulate others on new roles. In June, global technology and innovation leader Mike McNamara takes over the role of chief information officer.
In September, seasoned retail business leader Cathy Smith joins Target as our new chief financial officer. Her predecessor, John Mulligan, is named to the newly created role of chief operating officer, and assumes oversight of stores, supply chain and properties.
In December, Casey Carl steps into the newly created role of chief strategy and innovation officer. Our teams explore new ways to give guests a peek at what the future of retail and the shopping experience could be, as imagined by Target.
In March, we unveil Target Too, an exhibit featuring playful, interactive and shoppable installations made of Target products. Here, Target showcases cutting-edge home technology and visitors can see how more than 30 connected home products work together within the Internet of Things.
Part toy store and part larger-than-life holiday playground, Target Wonderland merges the physical and digital retail experience to reimagine holiday shopping for its guests. Our guests love products with a great backstory, so in March, we introduce Target Collective, a collection of brands with impeccably crafted, locally produced goods.
In June, three new brands join the mix—Stone and Cloth, Parks Project and Shwood—with more clothing, bags and eyewear for men and women. Our action-packed, stop-motion Avengers: Age of Ultron TV spots send toy heroes on an adventure through the Target store and parking lot. We team up with the Charles M. Schulz Museum on an exclusive cross-category collection to celebrate The Peanuts Movie.
The piece collection features style and home products from apparel to patio furniture. When the big day arrives, guests go wild for the colorful prints. Our teams continue to test new ideas and technology that will help us take the shopping experience to a new level. Later, we introduce a project called LA25, with plans to test some of our top enhancements in 25 of our Los Angeles-area stores to study the power they have on guest experience and sales.
We also pilot on-demand grocery delivery through a partnership with Instacart, and improve on other flexible fulfillment options like ship-from-store and order pickup. In the fall, we launch an international version of our website, allowing guests overseas to shop online, and those in the U. Guests get excited for new Target collections featuring styles that look great on all body shapes and sizes.
Top fashion bloggers Nicolette Mason, Chastity Garner and Gabi Gregg preview the Spring collection and give our design team input for the Fall collection. It features swimwear and accessories specially designed to flatter all body types. Inclusivity is a core belief at Target, and we proudly stand with the LGBT community through our volunteerism, partnerships and products.
In June, we share our TakePride manifesto and celebrate Pride Month with sponsored events and a new merchandise collection. In September, we sign on to the Equality Act, taking a stand with other businesses against workplace discrimination. To help guests celebrate the love they have for their own backyard, Target teams up with designer Todd Snyder on a series of exclusive, city-specific product collections including t-shirts, baseball caps, pint glasses and phone cases all about hometown pride.
Target continues to open new flexible format stores across the country. The stores vary in size and assortment, allowing us to create a more locally-relevant experience for guests in urban areas.
But big or small, they all deliver the full Target experience guests love. The rebranding begins in October. Target continues its long history of making sure our global manufacturers meet our high standards for responsible sourcing and labor practices. In September, we join forces with GoodWeave in support of their mission to end child labor in the rug industry. Target is honored to be among retailers leading the industry in bringing secure chip card payment technology to the U.
In August, ahead of the national deadline, we finish equipping all of our Target stores to accept third-party chip cards at checkout. We also begin rolling out our own chip-enabled Target REDcards to guests. The reissuance process continues in phases over the next year. The first-of-its-kind page insert uses Shazam image-recognition technology, allowing readers to compare the archival images with the reimagined ones, interact with behind-the-scenes content, and shop the Target products.
This fall, plaid takes over Target. The fan-favorite patterns appear on products in nearly every category—throw pillows, Diet Coke, apparel, Chapstick, Listerine and more. Among the highlights? A limited-edition collection of apparel and home products from designer Adam Lippes. Our goal is to help improve the health of the nation by making wellness the way of life—by making healthy eating, active living and clean-label product solutions like simple, recognizable, easy to read ingredients and materials more affordable, accessible and inspiring.
Plans kick off to identify a full range of partnerships and programs dedicated to wellness that build on our legacy of work in education, sustainability, diversity and inclusion, and addressing local community needs. Award-winning makeup artist Sonia Kashuk continues to create coveted Target beauty collections, including her Spring Art of Beauty line with artist Linda Mason.
From upping our total ENERGY STAR certifications to adding solar panels to more of our stores, the commitments are part of our ongoing work to improve our energy efficiency, invest in renewable energy, and lower our overall HFC impact. Target co-founder Bruce Dayton passes away on Nov. In November, The One Spot—the grab-and-go section at the front of our stores known for dollar deals—gets a makeover.
As the holiday season approaches, we bring guests captivating new TV spots, in-store displays and digital experiences designed to excite the kid in all of us. Our marketing campaign, The Holiday Odyssey, tells a season-long story featuring three kids on a journey to light up a Christmas tree, with the spotlight on many of our top holiday toys and products.
We also team up with ABC to bring Mary Poppins back to network television for the first time in more than 13 years as part of a special Wonderful World of Disney event. We usher in the new year with new leaders, as two long-time Target leaders join our executive leadership team. In February, Stephanie Lundquist becomes chief human resources officer. And in July, Don Liu joins the team as executive vice president, chief legal officer and general counsel. We kick off our partnership with the celebrity style and fashion aficionados Who What Wear on a month-by-month collection of apparel and accessories.
The first collection of spring looks, including feminine prints, dramatic silhouettes and bold accessories, debuts in stores and on Target. Our in-house designers, merchants, engineers and marketers incorporate ideas and feedback from guests into a versatile new creative toolkit for the brand with updated colors, fonts and other visuals.
The playful new packaging begins hitting shelves in February. So we create twelve print and pattern themes to give parents and kids the freedom to mix, match and make updates as the youngsters grow over time. We also share behind-the-scenes views of the video-in-the-making on Periscope, Facebook Live and Snapchat.
We travel far and wide to find designers and brands our guests will love. The much-anticipated, limited-edition collection kicks off a fan frenzy — and has us all dreaming of endless summer.
His message of resilience and humility in the face of change inspires and energizes the team. May marks another big leadership milestone. After an extensive search, Target names veteran Mark Tritton pictured at left as our chief merchandising officer. In addition, Jason Goldberger assumes the newly created role of chief digital officer and president, Target. All large retailers, including Target, faced revenues that were battered by the drop shopping brought on by the pandemic. Since that movement has accelerated in the last year, Target faces a challenge harder than it has in years—or perhaps since it was founded.
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