Target Annual Report Summary
Target Corporation’s Annual Report/ Financial Analysis Project
Antoinette Rease Meagan McGahee
ACCT 2030
FALL 2010
History of Target
With its headquarters in Minneapolis, Minnesota, Target is a continuously striving company focused on improving every aspect of their business – whether it's their merchandising for guests, technology solutions, or even the future design of the company. The first Target store was founded and created in 1932 in Roseville, Minnesota by George Dayton. Originally created to be a discounted merchandising company, Target surpassed all doubters expectations when it began to offer common stock, and 1969, merging with J.L. Hudson and for the first time, Target revenues topped $1 billion dollars. Today Target is the second discount retailer in the country, trailing its main competitor Wal-Mart. Two decades later target has exceeded $67 million in revenues annually generated through sales of apparel, electronics, house ware and other product categories through both online operations and out of their 1,750 stores in the U.S. Target is one of the top ten largest retailers in the United States by sales and being such, there are many opportunities in purchasing its stock. Targets common stock is listed in the New York Stock Exchange under the stock symbol of “TGT.“ Target overcame many obstacles such as an unsolicited takeover bid by the Dart Group and nine years later when rival J.C. Penney Company, Inc. offered more than $6.5 billion for the retailer. Today Target stock is healed at $53.07, a big difference from even the 1900s when their stock ranged from $3.50 to $4.24. Target has $693 million of shares outstanding as of March 7, 2011 with 6 million shares of common stock, par value $0.08333, and up to 5 million shares of preferred stock, par value $0.01. Looking towards the future Targets Chairman, President, and CEO: Gregg W. Steinhafel has stated that Target has taken its first step in expanding outside of the US with the purchase
Antoinette Rease Meagan McGahee
ACCT 2030
FALL 2010
History of Target
With its headquarters in Minneapolis, Minnesota, Target is a continuously striving company focused on improving every aspect of their business – whether it's their merchandising for guests, technology solutions, or even the future design of the company. The first Target store was founded and created in 1932 in Roseville, Minnesota by George Dayton. Originally created to be a discounted merchandising company, Target surpassed all doubters expectations when it began to offer common stock, and 1969, merging with J.L. Hudson and for the first time, Target revenues topped $1 billion dollars. Today Target is the second discount retailer in the country, trailing its main competitor Wal-Mart. Two decades later target has exceeded $67 million in revenues annually generated through sales of apparel, electronics, house ware and other product categories through both online operations and out of their 1,750 stores in the U.S. Target is one of the top ten largest retailers in the United States by sales and being such, there are many opportunities in purchasing its stock. Targets common stock is listed in the New York Stock Exchange under the stock symbol of “TGT.“ Target overcame many obstacles such as an unsolicited takeover bid by the Dart Group and nine years later when rival J.C. Penney Company, Inc. offered more than $6.5 billion for the retailer. Today Target stock is healed at $53.07, a big difference from even the 1900s when their stock ranged from $3.50 to $4.24. Target has $693 million of shares outstanding as of March 7, 2011 with 6 million shares of common stock, par value $0.08333, and up to 5 million shares of preferred stock, par value $0.01. Looking towards the future Targets Chairman, President, and CEO: Gregg W. Steinhafel has stated that Target has taken its first step in expanding outside of the US with the purchase