When comparing itself with rival Walmart Supercenter hypermarkets, then-chief executive Gregg Steinhafel opined that Walmart operates like "a grocer that happens to also sell general merchandise," where in contrast, its less aggressive expansion of SuperTarget stores is indicative of their position that the grocery industry as a "high-impact, low-cost" side project. In the early 2000s, 43 locations (of nearly 100) featured E-Trade trading stations, although they were all closed by June 2003 after E-Trade determined that "we were not able to make it into a profitable distribution channel." Pay Less." (in reference to their tagline "Expect More. The company expanded their grocery assortment in 2003 and adopted the modified tagline "Eat Well.
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The first SuperTarget hypermarket opened in Omaha, Nebraska, in 1995, and expanded upon the Target Greatland concept with the inclusion of a full grocery department. Target Greatland locations have since been converted to stores following the PFresh format beginning in 2009. They were about 50% larger than traditional Target stores, and pioneered company standards, including an increased number of checkout lanes and price scanners, larger aisles, expanded pharmacy and photography departments, and a food court. The first Target Greatland location opened in Apple Valley, Minnesota, in September 1990. This store was remodeled in October of 2017. The exterior of a SuperTarget in Omaha, Nebraska, in 2020. The acquisition of the Target pharmacies enabled CVS to expand its market into Seattle, Denver, Portland, and Salt Lake City. The Target clinics were also rebranded as MinuteClinic. The Target pharmacies were rebranded as CVS Health pharmacies, which totaled 1,672 pharmacies in February 2016. On June 15, 2015, CVS Health announced an agreement with Target to acquire all of Target's pharmacies and clinic businesses for around $1.9 billion.
The company's decision to close their garden centers opened floor space for PFresh expansion and larger seasonal departments beginning in 2010. The company remodeled 109 stores accordingly in 2006, and renovated another 350 stores the following year. PFresh sells perishable and frozen foods, baked goods, meat, and dairy. Newly constructed stores that follow the PFresh format are roughly 1,500 square feet (140 m 2) larger than properties without groceries, although retain the Target branding because their offerings are considerably more limited than SuperTarget. Target introduced the "PFresh" store prototype in 2006, which expanded its grocery selection in general-merchandise locations by upwards of 200%. Initially, only SuperTarget locations operated Starbucks Coffee counters, although they were integrated into general-merchandise stores through their expanded partnership beginning in 2003. While many Target stores follow a standard big-box architectural style, the company has focused on "customizing each new store to ensure a locally relevant experience that best fit the surrounding neighborhood's needs" since August 2006. Present-day properties are roughly 135,000 square feet (12,500 m 2) and sell general merchandise, including hardlines and softlines. The first Target discount store opened in Roseville, Minnesota, a suburb of Minneapolis–Saint Paul, on May 1, 1962. Their retail formats include the discount store Target, the hypermarket SuperTarget, and "small-format" stores previously named CityTarget and TargetExpress before being consolidated under the Target branding.ĬVS Pharmacy inside of a Target store (store #1910 in Savannah, Georgia) It suffered from a massive, highly publicized security breach of customer credit card data and the failure of its short-lived Target Canada subsidiary in the early 2010s, but experienced revitalized success with its expansion in urban markets within the United States.Īs of 2023, Target operates 1,948 stores throughout the United States, and is ranked No. 32 on the 2022 Fortune 500 list of the largest U.S. The parent company was renamed Target Corporation in 2000, and divested itself of its last department store chains in 2004. The company has found success as a cheap-chic player in the industry. It began expanding the store nationwide in the 1980s (as part of the Dayton-Hudson Corporation), and introduced new store formats under the Target brand in the 1990s. Target was established as the discount division of Dayton's department store of Minneapolis in 1962. The company is one of the largest American-owned private employers in the United States. It is the seventh largest retailer in the United States, and a component of the S&P 500 Index. Target Corporation is an American retail corporation headquartered in Minneapolis, Minnesota. Map of Target stores in United States, as of December 2020
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