Target: Company Description

Incorporated on February 11, 1902 as Goodfellow Dry Goods, the company became known as Target in the 1960s. Target is a general-merchandise and grocery retailer selling products through its stores and digital channels. As of May 26, 2019, Target operated 1,851 stores throughout the US. The company is ranked 39 on the 2018 Fortune 500 list of the largest US corporations by total revenue. Target’s annual revenue for FY18 was $75.36 billion, a 3.6% increase from FY17. [caption id="attachment_94277" align="aligncenter" width="700"] Source: Company press releases/company reports[/caption]  

Key Events Overview: 1902-2019

2010-2019: In the last 10 years, Target has focused on store expansion, brand collaboration and new service offerings. In December 2017, Target acquired Shipt, a leading online same-day delivery platform, for $550 million in cash. In 2018, Target and Shipt rolled out same-day delivery across the US. Target started testing urban-geared formats back in 2012 and opened a small-format store near the University of Minnesota in 2014. In September 2014, Target announced plans to open smaller-format stores in San Francisco’s financial district and Berkeley. Later, the company opened more small-format stores across the country. In January 2001, Target launched its first private label, called Market Pantry. By May 2019, Target had 39 private labels. Target constantly looks for opportunities to team up with brands, celebrities and retailers, such as Luella Bartley, Liberty of London, Jason Wu and Marvels. Target: Events Timeline, 1902–2019 [wpdatatable id=19]