A Report On Target Corporation

1933 Words8 Pages
Target Corporation was founded under the name of Dayton Dry Goods Company by George Draper Dayton in 1902 and headquartered in Minneapolis, Minnesota. His store became known very soon for fair business, dependable merchandise and generous spirit of giving. He was active as president in the store´s management until his death in 1838. In 1916, the company becomes a founding member of the retails Research Association, which was cooperative of leading retailers. In 1969, they started to introduce a new way of business and they decided to do a new kind of mass- market discount store oriented to clients who want a higher- quality experience. Then, during the next years they made that idea official announcing that the company moved to a new…show more content…
Target Corporation start to expanding nationwide during the 1980s until now and it established itself as the second- largest discount retailer in the United States. It operates in 1802 locations around the United States competing strongly with Walmart.
First Situation
In 2011, the company planned to be international business and open 124 stores in Canada by the end of 2013. They expected to be successful within the first year of operations. Also, they planned to build 3 new distribution centers in 2 years, even though; usually, it takes 2 years to build each center. However, all these expectations were not profitable; they filed wasting billions of dollars. The company defamed it reputation and they laid out approximately 17,600 employees, leaving them without jobs. In 2014, Target headquarters discover its annual results which were US $ 941 million loss in Canada. They launched a YouTube campaign apologizing to the Canadians consumer for the inconveniences caused and admitting their bad strategy used in the Canadian market. They tried with this public expression to improve the relationship with the consumers. After this, new team starts to work hard on the data analyze and make new decisions about better segment stores and moving inventory. Also, they improve the system identifying wrong data and improving supply chain process. Even though at the end of 2014 the company
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