Introduction
Target Corporation Statistics: Target Corporation is a leading American retailer that specialises in general merchandise, with its headquarters situated in Minneapolis, Minnesota, and a history that traces back to 1902. As the seventh-largest retailer in the United States, Target Corporation reported revenues amounting to $106.6 billion for the fiscal year 2024 and operates a total of 1,978 stores. The company is part of the S&P 500 Index and continues to maintain its headquarters in Minneapolis, Minnesota. Initially founded in 1902 as the Dayton Dry Goods Company, it has experienced several name changes and mergers, ultimately rebranding itself as Target Corporation in 2000.
By 2024, Target will operate close to 2,000 stores across all 50 states in the U.S., showcasing a significant retail footprint, with 75% of the U.S. population living within 10 miles of a Target store. The company plays a crucial role as an employer and is also a member of the S&P 500 Index.
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- The origins of Target Corporation trace back to 1902, when it was established by George Dayton.
- In 2022, Target’s annual revenue reached $107.6 billion, reflecting a 2.8% increase compared to the previous year.
- Target employs 440,000 individuals.
- In 2000, the Dayton-Hudson Corporation was rebranded as Target Corporation.
- According to a report by Zippia, Target Corporation’s employee diversity indicates that the workforce is predominantly female. With 54.2% of employees being women compared to 45.8% who are men.
Historical Facts
- The origins of Target Corporation trace back to 1902, when it was established by George Dayton.
- The inaugural Target store was launched in Roseville, Minnesota, in 1962, and the parent company rebranded itself as the Dayton Corporation in 1967.
- By the 1920s, the Dayton Company had evolved into a multimillion-dollar enterprise that occupied the entire six-story building.
- Douglas Dayton was designated as the first president of Target.
- By 1964, Dayton’s had ascended to become the second-largest privately owned department store chain in the nation.
- In 1966, Bruce Dayton initiated the B. Dalton Bookseller specialty chain as a subsidiary of the Dayton Company.
- In 1975, Target inaugurated two additional stores, raising the total to 49 locations across nine states and achieving sales of $511 million (approximately $2.31 billion in 2024).
- In 1988, Target Stores broadened its footprint in the Northwestern United States by opening eight units in Washington and three in Oregon, culminating in a total of 341 units across 27 states.
Later 2000’s
- In 2000, the Dayton-Hudson Corporation was rebranded as Target Corporation.
- On January 9, 2008, Bob Ulrich disclosed his intention to retire as CEO, appointing Gregg Steinhafel as his successor.
- In June 2010, Target established a goal to contribute $1 billion to educational initiatives and charities by 2015.
- On January 22, 2014, Target notified employees regarding the reduction of 475 positions at its global offices.
- On October 2, 2017, Target introduced a new online order service named Drive Up. Enabling customers to place orders online for pickup outside the store.
- On August 25, 2019, Target and the Walt Disney Company announced a collaboration to establish a Disney Store in select Target locations.
- On July 16, 2020, Target, along with other prominent retailers, mandated that all customers wear masks in its U.S. stores.
- In March 2022, Target refurbished its store situated in Vista, California.
General Target Corporation Statistics and Facts
- Target serves more than 30 million customers weekly who shop at its locations.
- Approximately 80% of shoppers in the U.S. (around eight out of ten Americans) visit Target at least once annually.
- There are more than 100 million members of Target Circle.
- As of February 2025, Target operates 1,978 stores across the United States.
- In August 2023, Target.com experienced 164.9 million visits.
- In 2022, Target’s annual revenue reached $107.6 billion, reflecting a 2.8% increase compared to the previous year.
- com held a 2.1% market share, positioning it among the top retail e-commerce companies in the United States.
- Daily, Target generates roughly $299 million in revenue.
- The overall customer satisfaction score for Target stands at 80.
- A significant 83% of Target’s customers identify as loyal.
- On average, a Target shopper spends $49 per visit, which translates to about 21 visits each year.
- Target employs 440,000 individuals.
- Among Target’s customers, 48.2% are female, while 51.2% are male.
Target Corporation Sales Share by Category Statistics
- Hardlines: 15.28%
- Apparel & accessories: 15.58%
- Home furnishings & decor: 16.79%
- Food & beverage: 22.59%
- Beauty and household essentials: 29.57%
Sales share of Target Corporation in the US Statistics
| Year | Store Sales | Online Sales |
|---|---|---|
| 2019 | 91.2 | 8.8 |
| 2020 | 82.1 | 17.9 |
| 2021 | 81.1 | 18.9 |
| 2022 | 81.4 | 18.6 |
| 2023 | 81.7 | 18.3 |
Target Shopper Demographics
- Male: 51.8%, Female: 48.2%
- 18-24: 12.41%, 25-34: 29.56%, 35-44: 20.16%, 45-54: 17.02%, 55-64: 13%, 65+: 7.72%
Target Employee Demographics
- According to a report by Zippia, Target Corporation’s employee diversity indicates that the workforce is predominantly female, with 54.2% of employees being women compared to 45.8% who are men.
- The foreign languages most frequently spoken at Target Corporation include Spanish, French, and German, with 70.3%, 7.1%, and 2.9% of employees speaking these languages, respectively. Conversely, Polish, Carrier, and Swedish have a significantly lower number of speakers.
- Approximately 60.3% of employees at Target Corporation are white, while 18.3% identify as Hispanic or Latino, and 11.2% are black or African American. The Asian demographic represents the smallest group within the workforce.
- Employees aged between 20 and 30 make up the largest age group, accounting for 52% of the total workforce. Additionally, individuals aged 18 to 20 represent 26%. Those aged 30 to 40 constitute 11% of the workforce, while the smallest age groups are those under 18 years old (3%) and those over 40 years old (5%).
- At least 37% of Target employees possess a bachelor’s degree, followed by 33.1% who have a high school diploma and 16.6% with an associate degree. Some employees have also completed diplomas, certificates, master’s degrees, or doctorates and have obtained various licenses.
Target Fun Facts
- Target was established by a banker and an heir to a department store, with its inaugural store opening in 1962.
- Its logo features a red bullseye, accompanied by its canine mascot, Bullseye.
- Target was the first discount retailer to offer Levi’s jeans.
- In 2019, Target introduced Disney stores within select locations, marking its initial shop-in-shop retail concept.
- In 2017, Target acquired the delivery service Shipt.
- Target is regularly recognised as one of the most charitable companies in the United States.
Recent Developments
- In 2024, Target revealed its decision to eliminate the red branding and introduce the well-known circle to its card service, consequently renaming the RedCard to Target Circle Card immediately following the overhaul of the membership program.
- In early July 2024, Target announced that it would cease the acceptance of personal checks at its locations starting July 15.
- On January 24, 2025, Target disclosed its plan to retract its Diversity, Equity, and Inclusion initiatives in compliance with the recent executive order issued by President Trump.
Target Future Predictions
- Analysts predict a rebound in sales in 2026 after an expected drop in fiscal 2025, with certain projections indicating revenue growth of around $106 billion and a favorable comparable store sales increase of approximately 2%.
- EBITDA is anticipated to recover to the low- $8 billion range in 2026 and will increase in tandem with sales, following a forecasted decline in 2025.
- Free Cash Flow (FCF) is expected to exceed $500 million in 2026, which may be utilised for strategic investments, share buybacks, or debt reduction.
Conclusion
Target Corporation is a prominent retailer in the United States, operating more than 1,978 stores. However, it has encountered recent financial difficulties, characterised by decreasing sales and slim profit margins, attributed to issues such as rising theft and inventory management challenges. Although the company has historically experienced substantial revenue growth, its recent performance suggests a decline, with projected revenue for fiscal 2024 at $106.6 billion and a decrease in stock value over the last five years, especially when compared to some of its competitors. The primary segments of the business include Beauty & Household Essentials, Food & Beverage, and Apparel & Accessories, with digital sales reflecting modest growth.
