1 / 10

TARGET

TARGET. Project by Erin Adamson & Gavin Matesich 3 rd Block September 2012. Introduction. Target Corporation S tarted in1902 in Minneapolis, Minnesota Officially named “Target” in 1962 when the first Target store was built in Roseville, Minnesota

dani
Download Presentation

TARGET

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. TARGET Project by Erin Adamson & Gavin Matesich 3rd Block September 2012

  2. Introduction • Target Corporation • Started in1902 in Minneapolis, Minnesota • Officially named “Target” in 1962 when the first Target store was built in Roseville, Minnesota • Original plan was to create an upscale discount store • Has stores in every state but Vermont • 97% of Americans recognize the Target bulls eye logo Taget’s 1968 logo Target’s current logo

  3. History • Target was started in 1902 by George Dayton. • The first store was built in Minneapolis, Minnesota. It was originally called “Goodfellows.” • In 1962, Dayton built the first Target store in Roseville, Minnesota. • In 1967, the corporation goes public and offers sales of stock. • In the 1970’s, the corporations profits top $1 billion for the first time • In the 1980’s, the corporation’s profits top $10 billion. • In the 1990’s they offer a discount card and open their first SuperTarget • Celebrated their 40th anniversary in 2002 • In 2005, Target’s revenue exceeded $50 billion • Now expanding into the grocery market, stocks have been up!

  4. Company Details • CEO: Gregg Steinhafel • Headquarters: Minneapolis, Minnesota • Number of stores: 1,743 • Company revenue: $65.357 billion in 2009 • Company net income: $2.488 billion in 2009 • Employees: 351,000 in 2009 • Multinational: no • Ticker Symbol: TGT (NYSE) • Website: www.target.com

  5. Industry • Target is a retail store that provides public goods • Target stores carry clothing, shoes, accessories, sporting goods, pet supplies, toys, health and beauty products, furniture, bedding, electronics, and nonperishable food items • Some Targets also carry groceries and fresh produce • Target has worked with major designers for their clothing, accessories, and shoe lines, including: Michael Graves, Issac Mizrahi, MossimoGiannulli, Liz Lange, and Converse

  6. Competition • Target’s major competitors are Costco, Wal-Mart, and Kmart • It differentiates itself from its competitors by having more upscale items that attract higher income shoppers • The average income of a Target shopper is $63,000 • Most of the shoppers at Target have attended college and earned college degrees • They have tried to attract more customers with clean stores, wider aisles, and colorful graphic displays • Recently, some Targets have begun carrying groceries to further compete with Super Wal-Marts

  7. Competition Target Corporation has established somewhat of a niche in the retail industry. The company is expanding its stores that offer fresh produce, and is generally well-regarded when it comes to both fashion and home goods. In addition, the company usually leaves its primary aisles clear for customers, versus its competitor Wal-Martwho normally places displays in the middle of the main walkways to squeeze more selling space out of each store. While these displays do offer more selling space, customers many times complain that the stores feel cramped. While it's true that online competition such asAmazon.com presents a challenge, Target is taking steps to insulate itself.

  8. Stocks • Day’s range of stock prices: $64.67 • Stock value on January 15, 2008: $49.87 • Stock value on January 14, 2005: $46.15 • Stock value on January 14, 2000: $69.25 • Summary: Target stocks have remained stable over the last several years staying in the $40 - $70 range. The stocks were probably higher in 2000 because Target has just rebranded itself and was attracting a lot of customers and public attention. Also, we were not experiencing a recession at that time. Stock prices are likely higher than usual right now because of the back-to-school shopping rush.

  9. Headlines • Target Stores Will Host Best Buys’ Geek Squad (August 9, 2012) http://www.bizjournals.com/twincities/morning_roundup/2012/08/in-test-target-stores-will-host-geek.html?ana=yfcpc– Starting this fall, Best Buys’ Geek Squad tech repair group will be hosted inside Target stores. This is great news for Target, but shows how much Best Buy is struggling in the market. • Back to School Sales Boost Retail Stocks (Aug. 30, 2012) http://finance.yahoo.com/news/back-school-sales-boost-retail-191832232.html– this article discusses the positive impact that back-to-school demand has created for retail stores like Target • American Retailers Face Challenges in Expanding to Canada (Sept. 14, 2012) - http://www.nytimes.com/2012/09/15/business/american-retailers-expanding-to-canada.html?partner=yahoofinance – this article explains that a weak Canadian dollar and higher startup costs have prevented many large American companies from opening stores in Canada, that is until now. Target plans to open 123 stores in Canada.

More Related