Target corporation does engage in the owning and also the operation of the general merchandise stores. Also, it does operate SuperTarget stores with a series of food and general merchandise products. It does offer an assortment of the general merchandise. This does include very many items that are found in company’s stores. Also, there is a complimentary assortment, including the size and the colors that are sold online. The company was created by George Draper Dayton. This was in the year 1902 and has its headquarters in Minneapolis, MN. Keep reading to learn more about the net worth of Target in 2020.
The history of Target dates back to the year 1902. This is after Dayton founded it. It was popularly known as Dayton Dry Goods Company. It was named after its founder George Draper Dayton. The ownership of this firm has changed hands within the clan of Dayton. Several grandsons have been on the helm of this company. They include Wallace, Kenneth, Donald, Douglas, George II and Bruce. Also, the company has also experienced a series of expansion. This is what has resulted in the current Target Corporation.
Target Corporation has grown to be the second largest store retailer in the United States of America. It ranked behind Walmart which is the largest. It had its first name as Goodfellow Dry Goods. It would later be renamed to Dayton Dry Goods Company. This was in the year 1903. They did establish their first store in Roseville, Minnesota. The parent company rebranded to Dayton Corporation. After it merged with J.L Hudson Company, it was renamed to Dayton Hudson Corporation. Target has been able to establish itself as the highest division of Dayton Hudson since 1970s.
It has increased its coverage and has new stores Under Target Brand. This is from the 1990s. The parental company would later change its name to Target Corporation in the year 2000. It has divested the last departmental store chains in the year 2004. It did suffer from a security breach of the customer’s credit card. As of the year 2018, the company does operate 1822 stores throughout the United States of America. The retail formats do include the discounts store Target, hypermarket SuperTarget, and the TargetExpress before it was consolidated under the brand Target. Target has been known for focusing on ‘having a more clearer image conscious shoppers,’ unlike the rival Walmart that does rely on minimizing the prices.
The company has hugely improved its way of doing things to ensure that it is more efficient. Barron did rank Target Corporation at position 31 on the list of 100 Most Sustainable Companies. The Fortune magazine did rank Target at position 44 on the list of World’s Most Admired Companies. The companies have won very many awards, and the future seems even brighter.
Net worth and Earnings
Target Corporation total revenue is estimated to be over $70 billion. The operating income of the company is $4.31 billion. The net income as per 2018 was $2.93 billion. The total assets of the company were over $39 billion. The figures above are a clear indication of how well the company is doing.
Despite the super profits that the company does make, it has ensured that it directs some of the profits into philanthropic activities. It is estimated that the company does direct five percent of the company pretax profit into enhancing the welfare of people. This is recommendable.