The company's roots were founded in 1902 when George Dayton opened a retail store named Goodfellows in downtown Minneapolis. In 1903, the store changed its name to the Dayton Dry Goods Company, and it changed its name again to the Dayton Company in 1910. In 1956, The Dayton Company opened Southdale, the world's first fully-enclosed two-level shopping center in suburban Minneapolis.
In 1962, the Dayton Company entered discount merchandising by opening its first official Target discount store in Roseville, Minnesota, a suburb north of St. Paul. By 1979, it would be the company's top revenue producer. In 1967, the Dayton Corporation was established and it went public with its first offering of common stock. In 1969, the Dayton Company merged with the J.L. Hudson company. In 1978, the company acquired Mervyn's and became the 7th largest retailer in the United States. In late 1986 the company acquired Gemco from Lucky's and in 1990 it acquired Marshall Field's. Dayton Hudson Corporation changed its name to Target Corporation in 2000; by then, more than 75 percent of the corporation's revenue came from the Target division. In 2001, Target Corporation announced that its Dayton's and Hudson's stores would operate under the Marshall Field's brand. The three brands had been operating as a single unit, the Department Store Division.
2006-06-27 05:29:53
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answer #2
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answered by Stuart 7
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