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OSU BA 495 - Retailer Profile

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Slide 1OverviewGrowthHistoryPhilosophyGiving BackSales IncreaseFinancial SummarySWOT AnalysisSlide 10SourcesClayton GillespieKristin MurrayTaylor StudzinskiRetailer ProfileOverview•COMPANY PROFILE Target is an upscale discounter that provides high-quality, on-trend merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business, Target.com. –Designers: Michael Graves, Amy Coe, Sonia Kashuk, Liz Lange and Isaac Mizrahi, Thomas O’BrienGrowth•Mission –2010 stores by 2010•Locations–1443 Stores in 47 States (including 162 SuperTarget locations) –By 2008 they will be 49 states with the addition of Hawaii and Alaska–http://sites.target.com/site/en/spot/page.jsp?title =store_locator&ref=nav2_storelocator–25 Regional Distribution Centers –4 Import WarehousesHistory•1881 Marshall Field & Co. is founded.•1902 George D. Dayton opens Goodfellows in downtown Minneapolis•1903 Daytona Dry Goods Store is founded; in 1911, it becomes The Dayton Company.•1946 Daytona Company Bylaws establish practice of giving 5% of pre-tax profits back to community.•1962 Daytona Company opens first Target Store.•1968 The bull's-eye logo is redesigned to its current appearance.•1969 Merger creates birth of Daytona Hudson Corporation.•1974 Plan-o-grams developed.•1978 Daytona Hudson Corporation Acquires Mervyn’s becomes the 7th largest U.S. retailer.•1987 Target introduces electronic scanning checkout while processing expedites distribution center delivery process.•1990 Daytona Hudson Corporation acquires Marshall Field’s.•1995 Target Introduces Store Credit Card and the first SuperTarget store opens.•1999 Target.com is launched as well as introducing its first designer line of products by Michael Graves.•2000 Daytona Hudson Corporation renamed Target Corporation.•2004 Marshall Field’s and Mervyn’s are sold.•2005 Target Corporation ranks among the top 20 corporate contributors in the nation.PhilosophyBEST COMPANY EVER•Guests vs. Customers•Team Members vs. EmployeesExpect More. Pay Less.Giving Back•Community–2 million a week to education, the arts, and social services. •Environment –Recycled carts–Donation of overstock goods•DiversitySales Increase2006 Target Comparable StoresJanuary 14.1 5.2February 10.5 3.6March 8.6 2.2April 17.3 10.4May 12.3 5.7June 11.3 4.8July 9.6 3.1August 9.2 2.8September 13.4 6.7Financial Summary2005 2004 2003Revenues$52,620 $46,839 $42,025Net Earnings$2,408 $1,885 $1,651# of Stores1,397 1,308 1,225Square FT178,260 165,015 152,563# of Employees338,000 292,000 273,000SWOT AnalysisStrengths:Good location – connected to Heritage Mall; Albany’s prime shopping centerStrong Brand ImageLarge Parking LotWeaknesses:Only local customers – can’t been seen from travelers on I-5Far for OSU students to travel for basic necessitiesSWOT AnalysisOpportunities:Mall shoppers bring more business to TargetSurrounding retail businessesThreats:Fred Meyer, Old Navy, Sears, G.I. JoesCompetition in surrounding


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OSU BA 495 - Retailer Profile

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