Target's founder - George Draper Dayton

1881 - George D. Dayton decides to explore the growing Midwest markets. He purchases land on Nicollet Avenue and forms the Dayton Dry Goods Company which today is known as Target Corporation.

Target soon becomes known for dependable merchandise, fair business practices and a generous spirit of giving. As President, Dayton remains active in the store's management until his death in 1938. His son and grandsons take over leadership and begin to grow the Dayton Company into a nationwide retailer.

                                         

1902 - George D. Dayton becomes a partner in Goodfellow's Dry Goods Company, the fourth largest department store in Minneapolis, Minn. The following year, desiring greater involvement, Dayton takes sole ownership of the store and becomes the first President of the newly named Dayton Dry Goods Company.

Dayton's Department Store

"1911 - 1919"

After a decade of rapid growth in 1911, Dayton Dry Goods Company was renamed to The Dayton Company to better reflect its wide assortment of goods and services. It becomes commonly known as Dayton's department store.

The Dayton Company becomes a founding member of the Retail Research Association, a cooperative of leading retailers. In 1918, the association expands and is renamed the Associated Merchandising Corporation.

1918 - George D. Dayton creates The Dayton Foundation with a $1 million endowment and  Renamed the Dayton-Hudson Foundation in 1969, it later becomes the Target Foundation in 2000.

A New Generation of Leadership

1950 - After the death of  George N. Dayton, Donald C. Dayton becomes president of The Dayton Company, thus ushering in a new generation of leadership. Eventually, all of the founder's grandsons—Wallace, George II, Kenneth, Donald, Bruce and Douglas—take leadership positions within the company.

1954 - The company's first expansion outside downtown Minneapolis takes place in March, when a full-line Dayton's is established in Rochester, Minn.

 

1956 - To meet the needs of busy suburban families, The Dayton Company expands to the suburbs of Minneapolis with the opening of Southdale Mall, the nation's first fully enclosed shopping center. Southdale changes the face of retail in the United States.  Stores thrive as busy shoppers flock to the mall, and Dayton's follows suit with three more shopping centers over the next 20 years: Brookdale in 1962; Rosedale in 1969; and Ridgedale in 1974; all located within the Minneapolis/St. Paul metropolitan area.

source : http://www.target.ca/en/ourcompany/history?lnk=gnav

Entrance into Discount Retailing

1960 - Company  recognizes an opportunity to develop and introduce a new kind of mass-market discount store that caters to value-oriented shoppers seeking a higher-quality experience. By this the company takes the first step toward transforming the organization from a family-run department-store chain into one of the nation's largest discount-store chains.

1961 -  In the following year the Dayton  Company plans to form a new discount chain store. The store's new president, Douglas J. Dayton, draws upon the company's vast wealth of department store experience and states that the new store will, "combine the best of the fashion world with the best of the discount world.

The Birth of Target and Creation of it's Icon

                                                                Target's Birth :

On May 1, 1962, the Target's first grand opening in Roseville, Minn. Heralded as a, "new idea in discount stores," Target differentiates itself from other retail stores by combining many of the best department store features — fashion, quality and service — with the low prices of a discounter. Created as, "a store one can be proud to shop in, a store one can have confidence in, a store that is fun to shop and exciting to visit." 

                                                          Creation of an Icon :

Before the first store opens it  has to be given a name and define the new retail store. They debate more than 200 possible names. In a burst of red-and-white inspiration, they come up with "Target". The reasoning behind the choice was, "As a marksman's goal is to hit the center bulls-eye, the new store would do much the same in terms of retail goods, services, commitment to the community, price, value and overall experience."

Growth on a National Scale

In 1967,  Dayton's transforms itself from a regional department-store company to a national retailer. President Donald C. Dayton takes the new position of chairman of the board, and Bruce B. Dayton steps into the president role. The corporation has five autonomous divisions: Dayton's department stores, Target Stores, B. Dalton Bookseller, Dayton Jewelers and Dayton Development Company. The corporate expansion also opens new doors and becomes the first step in bringing Dayton's foundation of affordable, quality fashion, innovative management, community giving and good corporate governance to a national audience.

In 1969, It opens its first distribution center - a warehouse responsible for storing and shipping trailer loads of products to Target stores.

In the same year 1969 it joins with the J.L. Hudson Company of Detroit to create the Dayton-Hudson Corporation. The two companies have similar merchandising philosophies and decades of commitment to outstanding corporate governance. The merger establishes the corporation as one of the 15 largest non-food retailers in the nation.

New Generation Innovations

                                                  Innovation through technology :

In 1988, Target becomes the first mass merchandiser to introduce UPC scanning at all Target stores and Distribution Centers. The new technology contributes to the evolution of the in-store shopping experience through greater inventory management, increased automation, and most importantly, a shorter wait time at the check lane. Hence result is a more efficient and enjoyable shopping experience for guests and team members.

                                        A New Contender in the World of Racing:

Target Now open in 32 states, Target partners with Chip Ganassi to form Target Chip Ganassi Racing. In the years to come, the new racing partnership embodies all the best aspects of what the company represents — speed, excitement, a modern flair, trend setting and success.

                                                            Target offers credit:

In 1995 the first Target store credit card, known as the Target Guest Card was  launched. It's followed in 2001 by the Target Visa^® Credit Card, the first company credit card to be accepted at major retailers nationwide. Renamed REDcards in 2004, the portfolio of credit products expands to add the Target Check Card in 2007.

                                                           Target moves online:

Target launches Target.com, allowing guests to shop a wide assortment of fashionable, affordable merchandise from the comfort of their own home, and hence becomes the most popular online website throughout.

Expansion and Changes

                                                 Renamed to Target Corporation:

In 2000 Dayton-Hudson Corporation was renamed Target Corporation to better reflect its core business.

                                                                Target.com 

The Target Weekly Ad makes its first appearance on Target.com.

                                                      Now open in 47 states:

In 2001, July Target Stores passes a major milestone as a national retailer after opening its 1,000th store. Guests have 1,000 reasons to celebrate with a greater selection of style and value in more locations. With stores in every state now Target has a presence from coast to coast.

                                                      Eat well. Pay less:

Target continues to be the ultimate one-stop shopping destination by increasing its availability of grocery products at stores in 2003. In 2004, Target introduces the Super Target tagline "Eat Well. Pay Less." This is the promise to provide a great selection of unique, affordable grocery items as well.

                                                                     Super Target goes organic:

In the year 2006, Target becomes a USDA certified-organic produce retailer, one of the first grocers in the country to do such thing ever. To meet these guidelines, the produce is guaranteed to meet USDA organic standards on everything from how it's grown and transported to how it's stocked in our stores. Today, the Super Target carries about more than 600 organic items.

Celebrating the Big 50

Target celebrates 50 years since its first store opened in 1962 and 110 years since the Dayton’s Dry Goods Company—now Target Corporation—was created.

                                           Expanding the Target Brand Internationally:

Target announces its expansion into Canada, extending their stores  beyond the United States for the first time in company history.125-135 new Target stores stretching from coast to coast are expected to open in 2013 and 2014. Canadian grocer Sobeys will supply frozen, dairy and dry grocery goods, including owned and national brands.

SOURCE: http://www.target.ca/en/ourcompany/history?lnk=gnav