Annual Report Project

Target is one of the largest retailers in the United States. Target wants to be able to give guests better quality products for a cheaper price. They also want to be the one stop shop. Target relies on their team members to keep

Target’s mission statement: “Our mission is to make Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional guest experiences by consistently fulfilling our Expect More. Pay Less brand promise.” (target.com)

Company Profile Target Corporation was founded in 1902 and is headquartered in Minneapolis, Minnesota. Target Corporation operates general merchandise and food discount stores in the United States. It operates as two reportable segments: Retail and Credit Card. The company offers household essentials, including electronics, music, and toys; apparel and accessories; home furnishings as well as seasonal merchandise. It also sells its merchandise under private-label brands, such as Archer Farms, etc. Target Corporation operates in-store amenities, such as Target Caféand Target Clinic as well. Its marketing strategy includes selling its products on its online shopping site Target.com and its network of

Target is one of the largest retailers in the United States. Target wants to be able to give guests better quality products for a cheaper price. They also want to be the one stop shop. Target relies on their team members to keep the guests happy so they always come back again and again. Target Corp. is the nation 's #2 discount chain (behindWal-Mart). The fashion-forward discounter operates about 1,765 Target and SuperTarget stores in 49 states, as well as an online business at Target.com. Target and its larger grocery-carrying incarnation, SuperTarget, have carved out a niche by

Headquartered in Minneapolis Minnesota, Target Corporation is one of the largest chains of retail stores in United States and Canada (Stone, 1995). Founded in 1902, the chain now has more than 360,000 employees worldwide. The company operates nearly 1925 stores out of which 1795 stores are in the US and 130 stores are in Canada (NASDAQ, 2014). The business prides itself in a diverse portfolio of merchandise that their outlets houses, ranging from dry groceries to electronics, furniture, apparel and much more. Its distribution networks make use of third party vendors, direct shipping as well as distribution centers. It also operates a successful e-store target.com which offers customers a virtual one-stop shop for their needs.

After the recession, Target’s value proposition shifted to simply offer affordable options in a wide array of product areas. However, now with better economic conditions and without the ability to offer lower prices than its affordable retail competitors, such as Walmart, and in order to stay relevant and refresh the company, Target needs to reposition itself as the high-quality concept and style-oriented retail store it was once known for.

The Target Corporation is a general merchandise retailer that opened up in in 1962 under the parent company of Dayton Corporation. This parent company was renamed the Target Corporation in 2000 and are based out of Minneapolis. There are over 1,800 Target stores throughout the United States which includes Targets and Super Targets. In 2005 Target began expansion in India and in 2011 to Canada however this expansion into Canada did not fare well and all Target Canada stores were closed by 2015. According to Forbes in 2005 they we ranked amongst the highest cash-giving companies in America with 2.1% given and they donate about 5% of its pre-tax operating profit. In 2010 Target was ranked number 22 by Fortune magazine’s World's Most Admired Companies.

The Target Corporation formerly known as “The Dayton Dry Goods Company” is a major retailing company that was founded in 1902 in Minneapolis, Minnesota by George Draper Dayton. It is ranked the second largest discount retailer in the United States and ranked thirty- sixth on the Fortune 500 as of 2013. The Target Corporation has been serving this nation with the best price possible goods since their expansion from “Dayton” and is continuously winning the hearts of consumers with their dedication and service. A phenomenal merchandising strategy and cross channeling has enabled this upscale discounter to serve their purpose of customer loyalty and fulfill their promise of “Expect more and Pay less”.

Target Corporation’s mission statement is to make their company the most sought after shopping destination by delivering a great guest experience with the most innovated technologies and quality merchandise. Target is the second largest general merchandise retailer in America. Target was founded by George Draper Dayton, in 1902, with the name Goodfellow Dry Goods. In 1903, Mr. Dayton changed the name to The Dayton Compay. Furthermore, the first Target store opened in 1962 in the Minneapolis, Minnesota which became the main headquarters. It grew to be the largest division of the Dayton-Hudson Corporation and was subsequently renamed the Target Corporation in 2000. Target anticipates staying ahead by challenging the company to be the most efficient and intellectual upscale company in the retail industry (Target Corporation, 2016).

Target achieved its differentiation in the marketplace by positioning its products and store experience as higher quality than its main discount competitors Wal-Mart, with lower prices than department stores. Target’s main focus is QUALITY product and at a LOW PRICE. It all began with the idea of, “fashionable, smart design…delivered at a competitive discount prices.” Target strives to deliver to customers a unique shopping experience. Target grabs customer’s attention by their big red bulls eye and customers keep going to target. But at the same time Target need to make sure that their shelves are stocked, they gave good customer service,

Target Corporation is a retail chain specializing in household goods, clothing, food, and accessories at discounted prices. The retail chain’s history started back in 1902 as Goodfellows and in 1910 as The Dayton Company. Initially, the chain specialized in “furnishings, fabrics and decorations for business and other public institutions” (“Target Corporation,” 2016, p. 5). Eventually, Target went public in 1967 and on to acquire Mervyn’s in the 1970s where they became the seventh largest retailer in the United States. Target operates in the United States, where it is headquartered in Minneapolis, Minnesota and as of January 31, 2015 Target employs over 300,000 people. “The company recorded revenues of $72,618 million in the financial year ended January 2015, the operating profit of the company was $4,535 million, [and] the net profit was $2,449 million” (“Target

Target sells a wide variety of general merchandise and food through the store and with the use modern technology. Target’s

Target Corporation has recognized itself as one of the top retailers in the United States market on the basis of excellent service quality, customer experiences, operational excellence, strong financial position, and a wide array of product offerings. Through its high degree of service orientation at physical outlets and adoption of fair business practices, Target Corporation has become the most distinctive retailer in the eyes of its potential customers. Being one of the top-notch retailers in the United States, Target Corporation has to carefully strategize on its business operations and marketing tactics so as to keep itself in the row of competitive brands of the industry.

Target Corporation is having a very stable financial policy and dividend policy. From the historical financial data, Target had debt $11,044M, $11,202M, $10,599M, $17,471M, and $19,882M in the year of 2005,2006,2007,2008, and 2009 respectively. The long-term debt/equity ratio rises from 69.34% to 108%.

Target is an upscale discounter that provides high-quality, trendy merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business, Target.com. It all started in 1902, when George Dayton joined in partnership with Goodfellow’s Dry Goods Company, the fourth biggest department store that is located in Minneapolis, MN. Dayton, wanting to be more involved in the company bought out Goodfellow’s to become sole owner and President of Dayton Dry Goods Company (Target Corporation, 2014). Travel on down through the years as Daytons continues to grow, until 1962. That was the year an icon was born, its name is “Target.”