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Target Corporation

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Target Corporation (doing business as Target and stylized as target) is an American big box department store chain headquartered in Minneapolis, Minnesota. It is the seventh largest retailer in the United States, and a component of the S&P 500 Index. Target was established as the discount division of Dayton’s department store of Minneapolis in 1962. It began expanding the store nationwide in the 1980s (as part of the Dayton-Hudson Corporation), and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed Target Corporation in 2000, and divested itself of its last department store chains in 2004. It suffered from a massive, highly publicized security breach of customer credit card data and the failure of its short-lived Target Canada subsidiary in the early 2010s, but experienced revitalized success with its expansion in urban markets within the United States.

As of 2019, Target operates 1,931 stores throughout the United States, and is ranked number 37 on the 2020 Fortune 500 list of the largest U.S. corporations by total revenue. Their retail formats include the discount store Target, the hypermarket SuperTarget, and “small-format” stores previously named CityTarget and TargetExpress before being consolidated under the Target branding.

History of Target Corporation

The history of Target Corporation first began in 1902 by George Dayton. The company was originally named Goodfellow Dry Goods in June 1902 before being renamed the Dayton’s Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton’s, Hudson’s, Marshall Field’s, and Mervyn’s. In 2000, the Dayton-Hudson Corporation was renamed to Target Corporation.

Finances

YearRevenue
in mil. USD$
Net Income
in mil. USD$
Total Assets
in bil. USD$
EmployeesStores
200546,8393,91832,293292,0001,308
200652,6202,40834,995338,0001,397
200759,4902,78737,349352,0001,488
200863,6372,84944,560366,0001,591
200964,9482,21444,106351,0001,682
201065,3572,48844,533351,0001,740
201167,3902,92043,705355,0001,750
201269,8652,92946,630365,0001,763
201373,3012,99948,163361,0001,778
201471,2791,97144,553366,0001,917
201572,6181,63641,172347,0001,790
201673,7853,36340,262341,0001,792
201769,4952,73737,431323,0001,802
201871,8792,93438,999345,0001,822
201975,3562,93741,290360,0001,851
202078,1123,28142,779368,0001,904
202193,5614,36850,471401,0001,909

Carbon footprint

Target Corporation reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 2,192 Kt (−241 /-9.9% y-o-y).[8] There has been a consistent declining trend in reported emissions since 2016.

Target Corporation’s annual Total CO2e emissions (Direct + Indirect) (in kilotons)
Dec 2017Dec 2018Dec 2019Dec 2020
2,643[9]2,592[10]2,433[11]2,192[8]

Store formats

Target

The exterior of a typical Target store in Rock Hill, South Carolina, in May 2012 (Store #1371)

CVS Pharmacy inside of a Target store (store #1910 in Savannah, Georgia)

The first Target discount store opened in Roseville, Minnesota, a suburb of Minneapolis–Saint Paul, on May 1, 1962.[12] Present-day properties are roughly 135,000 square feet (12,500 m2) and sell general merchandise, including hardlines and softlines. While many Target stores follow a standard big-box architectural style, the company has focused on “customizing each new store to ensure a locally relevant experience […] that best fit the surrounding neighborhood’s needs” since August 2006. Initially, only SuperTarget locations operated Starbucks Coffee counters, although they were integrated into general-merchandise stores through their expanded partnership beginning in 2003.

Target introduced the “PFresh” store prototype in 2006, which expanded its grocery selection in general-merchandise locations by upwards of 200%. Newly constructed stores that follow the PFresh format are roughly 1,500 square feet (140 m2) larger than properties without groceries, although retain the Target branding because their offerings are considerably more limited than SuperTarget. PFresh sells perishable and frozen foods, baked goods, meat, and dairy. The company remodeled 109 stores accordingly in 2006, and renovated another 350 stores the following year. The company’s decision to close their garden centers opened floor space for PFresh expansion and larger seasonal departments beginning in 2010.

CVS Health

On June 15, 2015, CVS Health announced an agreement with Target to acquire all of Target’s pharmacies and clinic businesses for around $1.9 billion. The Target pharmacies were rebranded as CVS Health pharmacies, which totaled 1,672 pharmacies in February 2016. The Target clinics were also rebranded as MinuteClinic. The acquisition of the Target pharmacies enabled CVS to expand its market into Seattle, Denver, Portland, and Salt Lake City.

SuperTarget

The exterior of a SuperTarget in Omaha, Nebraska, in 2020. This store was remodeled in October of 2017. (Store #1777)

The first Target Greatland location opened in Apple Valley, Minnesota, in September 1990. They were about 50% larger than traditional Target stores, and pioneered company standards, including an increased number of checkout lanes and price scanners, larger aisles, expanded pharmacy and photography departments, and a food court. Target Greatland locations have since been converted to stores following the PFresh format beginning in 2009.

The first SuperTarget hypermarket opened in Omaha, Nebraska, in 1995, and expanded upon the Target Greatland concept with the inclusion of a full grocery department. The company expanded their grocery assortment in 2003 and adopted the modified tagline “Eat Well. Pay Less.” (in reference to their tagline “Expect More. Pay Less.”) in 2004. In the early 2000s, 43 locations (of nearly 100) featured E-Trade trading stations, although they were all closed by June 2003 after E-Trade determined that “we were not able to make it into a profitable distribution channel.”

When comparing itself with rival Walmart Supercenter hypermarkets, then-chief executive Gregg Steinhafel opined that Walmart operates like “a grocer that happens to also sell general merchandise,” where in contrast, its less aggressive expansion of SuperTarget stores is indicative of their position that the grocery industry as a “high-impact, low-cost” side project. The company operated 239 SuperTarget locations as of September 2015; they each encompass an estimate of 174,000 square feet (16,200 m2).

In article written in August 2015, Target was quoted as saying “Big or small, our stores have one thing in common: they’re all Target.” Since then, newer stores have opened under the Target name.

Small-format Target

The exterior of the CityTarget in Boston, Massachusetts, in October 2015, now rebranded as Target (store #2822)

While typical Target locations are about 135,000 square feet (12,500 m2), the majority of “small-format” CityTarget stores are roughly 80,000 square feet (7,400 m2). The first stores were opened in July 2012, in Chicago, Los Angeles, and Seattle; the 160,000 square feet (15,000 m2) location in Boston is the largest CityTarget and opened in July 2015. TargetExpress stores hover around 14,000 to 21,000 square feet (1,300 to 2,000 m2); the first opened in Dinkytown near the University of Minnesota in July 2014. Products in these flexible-format properties are typically sold in smaller packages geared towards customers using public transportation. Locations built in college communities often carry an extended home department of apartment and dormitory furnishings. In August 2015, Target announced that it would rename its nine CityTarget and five TargetExpress stores as Target beginning that October, deciding that “Big or small, our stores have one thing in common: they’re all Target.” The first small-format stores under the unified naming scheme opened later that month in Chicago, Rosslyn, San Diego, and San Francisco. The company opened a 45,000 square feet (4,200 m2) store in the Tribeca neighborhood of New York in October 2016. In that same month, three other similar-sized stores opened in Philadelphia, Cupertino, California, and the area around Pennsylvania State University. Target opened a 22,000 square feet (2,000 m2) store in Austin’s Dobie Twenty21, adjacent to the UT Austin campus.

Nearly all of its planned openings through 2019 are small formats, which are less than 50,000 square feet (4,600 m2). The goal of these smaller-format stores is to win over the business of millennial customers. The nearly 30 new locations were to be situated in college towns or densely populated areas.

Brands and subsidiaries

As of 2018, Target has four subsidiaries: Target Brands, Inc., Target Capital Corporation, Target Enterprise, Inc., and Target General Merchandise, Inc.

Cash registers inside the now-closed Target (Store #3609, a former Zellers, later Lowe’s that opened in 2016 and closed in 2019 and is now Canada Computers) in Toronto, Ontario, Canada

Financial and Retail Services

Financial and Retail Services (FRS), formerly Target Financial Services, issues Target’s credit cards, known as the Target REDcard (formerly the Target Guest Card), issued through Target National Bank (formerly Retailers National Bank) for consumers and through Target Bank for businesses. FRS also oversees GiftCard balances. Target launched its PIN-x debit card, the Target Check Card, which was later rebranded the Target Debit Card. The Target Debit Card withdraws funds from the customer’s existing checking account, and allows for up to $40 “cash back”. The debit card allows guests to save 5% off each purchase. In late 2017, Target replaced its REDcard slogan, “Save 5% Today, Tomorrow, & Everyday with Target REDcard”, when it rolled out new benefits for REDcard holders by offering exclusive products on Target.com and preorders with “Everyday Savings. Exclusive Extras.”

Target Sourcing Services

This global sourcing organization locates merchandise from around the world for Target and helps import the merchandise to the United States. Such merchandise includes garments, furniture, bedding, and towels. Target Sourcing Services (TSS) has 27 full-service offices, 48 quality-control offices, and seven concessionaires located throughout the world. TSS employs 1,200 people. Its engineers are responsible for evaluating the factories that do business with Target Corporation for quality, labor rights, and transshipment issues. TSS was acquired by Target Corporation in 1998, was founded in 1916 as the Associated Merchandising Corporation, and was previously owned by the clients it served. TSS ceased operations in its department-store group, the division of the former Associated Merchandising Corporation that acted as a buying office for Saks, Inc., Bloomingdale’s, Stage Stores Inc., T.J.Maxx, and Marshalls

Website

Target.com owns and oversees the company’s e-commerce initiatives, such as the Target.com domain. Founded in early 2000 as target.direct, it was formed by separating the company’s existing e-commerce operations from its retailing division and combining it with its Rivertown Trading direct-marketing unit into a stand-alone subsidiary. In 2002, target.direct and Amazon.com’s subsidiary Amazon Enterprise Solutions created a partnership in which Amazon.com would provide order fulfillment and guest services for Target.com in exchange for fixed and variable fees. After the company sold Marshall Field’s and Mervyn’s in 2004, target.direct became Target.com. The domain target.com attracted at least 288 million visitors annually by 2008, according to a Compete.com survey. In August 2009, Target announced that they would build and manage a new Target.com platform, independent of Amazon.com. This new platform was to launch in 2011, in advance of the holiday season. Prior to the announcement, Target and Amazon had extended their partnership until 2011.In January 2010, Target announced their vendor partners for the re-platforming project. These partners include Sapient, IBM, Oracle, Endeca, Autonomy, Sterling Commerce, and Huge, among others. The re-platformed Target.com officially launched on August 23, 2011, effectively ending the partnership with Amazon.com.

Popular Target Promo Codes & Sales

DiscountDescriptionExpires
20% OFF20% Off 1 Order For College Students When You Join Target Circle09/04/22
UP TO 15% OFFUp to 15% Off Select Qualifying Items
1% BACK1% Cash Back For Online Purchases Sitewide09/01/22
ONLINE & IN-STORE5% Off + Free Shipping Year Round With Target REDcard
$5 OFF$5 Off Orders $25 Sitewide With Target Circle08/28/22

Frequently Asked Questions (FAQ) about Target

Are there any promo codes for Target?
Target frequently offers promo codes to its shoppers. Some will be specific to one category or group of items, so stay alert for any discount codes for your wishlist items!

How do I redeem Target coupon codes?
When browsing online or via the app, make sure you’re logged in to your Target account to save the Target deals you’re interested in that can then later be redeemed during online checkout, or in store using your mobile number or Target Circle barcode. You can find your barcode in your account or Wallet in the Target app.

How can I get Target discounts online?
Be sure to bookmark Target’s Weekly Ad and Circle Offers to see all the retailer’s latest available deals and discounts.

Are there coupons for Target?Yes. Target frequently offers coupons. You can find them in its Weekly ad, as well as in the app. And, if you’re signed up for the Target rewards program (Target Circle), you’ll be served special exclusive coupons that are only for rewards members.

Does Target have online coupons?
Yes. Frequently. You can find Target’s online coupons in the form of promo codes on its site. Or sign in to your Target account (or use the Target app) to “clip” online coupons that you’d like to apply to your order.

Does Target have printable coupons?
Target no longer offers printable coupons, but that doesn’t mean they’ve stopped offering coupons all together. Here’s how to find Target deals:

1. Browse Target’s Weekly Ad (either printed or online)
2. Check out Circle Offers online and in the Target app
3. See other ways to save at Target straight from our experts

Where can I find coupons for Target?To find a Target coupon or Target coupon code, check out Target’s website, its weekly ad and its app. Or, log in to Target.com and see which coupons are available to you.

How do I get coupons on the Target app?
Download the app and sign up for Target Circle. Then, when you’re using the app, tap Target Circle offers. This is where you will find Target coupons, Target coupon codes, Target promo codes and percent-off offers. Just hit the “+” symbol next to the Target offer you’d like to “clip” and use later. These discount offers will be added to your Target wallet so that when you check out, you won’t ever miss out on savings. That’s so much easier than clipping a physical coupon only to lose it before you can use it.

Where can I find Target’s weekly ad?
Target’s weekly ad can be found on its website at weeklyad.target.com, or you can register for emails and have it sent straight to your inbox. Those who have the Target app can pull up the ad from there.

How do I use a promo code on Target.com?
Visit your cart and under “Order summary” you will see a box to add a promo code. Enter your code, click “apply” and viola!

Can you stack coupons at Target?
Not in the traditional sense of applying as many coupons as you want against one item. BUT you CAN maximize coupons within the official Target coupon policy: One manufacturer coupon and one Target coupon (including a Circle coupon) can be used against a single item. You can use both percent-off discounts and promo codes on your entire cart (unless the fine print on the Target offer tells you otherwise).

Plus, you can combine gift card offers with Target Circle offers and other coupons. Target frequently offers $5 or $10 gift cards when you spend a certain amount on a brand or within a category. As long as you make the minimum purchase required to snag the gift card offer, you can use a coupon, too, and save.

How do I get free shipping at Target?
You need to spend more than $35 on a purchase in order to qualify for free shipping at Target. If you are a RedCard member, you get free shipping even if you do not reach the free shipping minimum.

How do I sign up for rewards with Target?
Ask a store associate to sign up for Target Circle Rewards or sign up online. This will give you access to special weekly Target Circle offers, a free birthday gift and a 1% store credit bonus for everything you purchase.

How to use Target’s app to save on purchases
Here’s how to make the most of your money using the Target app: The Target app highlights Target Circle offers, a free program where you can find hundreds of weekly deals and earn 1% cash back rewards on Target purchases. App users get an easily scannable version of all the coupons Target has that week, and even serves up special offers for your birthday if you create an account. You can also upload any Target gift cards to your app so all your savings can be in one place!

What happened to Target’s Cartwheel deals and app?
In 2017, Target rolled Cartwheel into the Target app, meaning that everything you loved about Cartwheel – like finding deals at your store and redeeming savings with one barcode scan – can now be done through one app. Hooray for no more flipping back and forth!

How do I sign up for a Target registry?
Talk to an associate in store or sign up through the “Registry” tab on Target’s website. Target offers registries for babies, weddings, college students, new homeowners and even custom occasions, where you can register for items or even Target gift cards so you buy items not filled from your registry. Registry users get a 15% off coupon for purchasing one or more items on their wish list, and have up to a year to return any registry item.

What is Target’s return policy?
Return most items within 90 days for a full refund or exchange. If you have a RedCard, you get an additional 30 days to return items. All customers also have a year to return items from Target-owned brands or from a registry. You can return items bought in store or online to any store, but online purchases can also be returned by mail. Lost your receipt? Return the item in-store as a Target associate can look up your receipt using your original payment method and issue your refund or exchange that way.

What is Target’s shipping policy?
Standard shipping at Target is $5.99 and express shipping is available for an added cost. Get free shipping by spending more than $35 or making your purchase with a RedCard. Select items may be available for free two-day shipping as well. Orders not eligible for two-day shipping will be delivered within three to five business days.

Does Target offer a senior discount?
Target does not currently offer a senior discount at this time but it does offer lots of other ways to save!

Does Target offer a military discount?
In honor of Veteran’s Day, Target offers a weeklong 10% discount to all U.S. active-duty military personnel, veterans and their families. Some exclusions apply.

How do I get Target text coupons?

Target no longer sends coupons via text, nor can you sign up for text coupons. Instead, you can sign up for coupons with your email on Target’s site. Or, get the Target app, sign up for a Target account and get coupons in the app.

How do I get the Target car seat trade-in coupon?

To get the 20% Target coupon for car seat trade-in, you must bring in an old car seat during the Target Car Seat Trade In event. This event usually takes place in the spring and fall. Bring the old car seat in, and use your phone to scan the coupon code on the drop box. You’ll get 20% off toward an eligible purchase of baby gear. Your coupon can be redeemed twice.

How can I get free Target gift cards?

Yes. Target frequently offers free $5 to $20 gift cards with select purchases. The way these offers generally work is, you spend a certain amount on a specific category or brand (often cleaning supplies, baby necessities or household essentials) and get a Target gift card to spend later. You’ll find these free gift card offers in the Target weekly ad.

Can you use coupons at Target self checkout?

Yes. Just use the scanner at self checkout to scan your coupon barcode. Or, if you’ve digitally “clipped” Target coupons in the Target app, you can scan your Target app barcode and have those coupons applied automatically.