Target is a national retailer offering its customers a wide range of products and services. The company has over 300 stores across the country and is a popular destination for people looking for great deals.
Target is committed to providing its customers with a great shopping experience.
Whether they’re looking for clothes or home decor, the company has what they want. However, several people have often asked the question, who owns Target?
The article covers who owns Target in 2023.
A Little History of Target
Before it became a national retailer, Target was owned by the Dayton Corporation. In this article, we’ll talk about the company’s history.
In 1902, George Dayton became a partner in a dry goods company known as Goodfellow’s Dry Goods.
In 1938, he passed away and was replaced by his son, George N., who became the company’s president.
The first Target store was opened in 1969 following the company’s merger with Hudson Companies to birth the Dayton-Hudson corporation.
Does Walmart own Target?
Walmart does not own target; the two companies are competitors. Walmart is often known to acquire smaller brands but is not expected to buy Target.
Target and Walmart are large retail chains operating in various market segments.
The former is referred to as a discount store, while the latter is known as a mid-range retailer.
Because of this, Target tends to offer higher-end products and charges more.
It’s unlikely that Walmart would buy Target, as the two companies are likely to face off against each other in the future.
Who Owns Target in 2023? (READ THIS TO FIND OUT)
The Target Corporation is the owner of the Target retail chain. It was founded in 1902 as a department store in Dayton.
It was initially known as Dayton’s Department Store. The company has over 1,800 locations in the US and employs over 400,000 people.
Due to the increasing competition from online retailers such as Amazon.com and Walmart, Target has been struggling in recent years.
In 2017, it announced that it would close over a dozen stores. Despite this, the company remains one of the biggest retailers in the country.
How did Target Get its Name?
The company, which was initially known as Goodfellow’s Dry Goods, was named after George Dayton.
He then changed the company’s name to Target in 1962 after visiting various stores like Sears and J.C. Penney.
He wanted the company’s name and logo to be easily remembered by customers.
Military references can also be found in the name. It was derived from the word “target” during the Second World War when the British Air Force referred to bombing raids on German targets.
The Current CEO of Target
Brian Cornell became the company’s new CEO in 2014. He has a long history of working with retailers and was previously the CEO of PepsiCo America Foods and Sam’s Club.
His resume also includes positions at Michael’s and other major companies.
He started his career as the CEO of Safeway. Under his leadership, the company has grown its sales and improved its performance. One of his goals is to expand the company’s online presence.
Target has also continued to give back to its community under Cornell’s leadership.
The company has improved the lives of children and those in need through its various programs.
For example, it partnered with pharmacy chain CVS to expand its operations, allowing customers to take their medications at their local Target.
In response to the increasing living costs, Target doubled its commitment to its employees by raising their pay to $15 an hour.
It also purchased Shipt in 2017. But, again, this company focused on providing guests with a convenient way to pay for groceries.
Shipt would then go on to work with other retailers. For example, during the pandemic in 2020, it provided convenient and personalized services to customers.
Target is over a hundred years old and has continued to grow in leaps and bounds.
The article answered the pertinent question on the lips of so many, which is who owns Target in 2023.
We had fun writing this article, and we hope you find them helpful.