Target may be one of the most popular stores across America, but is it Black owned? As you can see in our blog post about black owned businesses to support, we are huge supporters of supporting black own businesses! We wanted to find out if Target was black owned so that we could start shopping there too.
So, is Target black owned? Target is not black owned. Target is a publicly traded company and has multiple owners. The current CEO of Target is Brian Cornell.
The Target Corporation is an American retail corporation that operates department stores under the Target name. It also operates several others, including Mervyn’s, Marshall Field’s (in Illinois and Michigan), Carson Pirie Scottand in certain areas chain stores like SuperTarget, Greatland, Cookie Jar and Hometowne to supplement its retail store base.
The Target Corporation is the second-largest non black discount retailer in the United States, behind Walmart. The company ranked No. 82 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. It is also part of the S&P 100.
COMPANY OWNERSHIP
As owner of his own store in Minneapolis, Dayton was free to create his own merchandise. He earned a reputation for buying spring fashion fabrics and operating them over the summer to reduce their cost at the time of year when sales were low in Minnesota; he bought extra early so that his competitors would not have the same fabrics. and hence the company is not black owned.
Brian Cornell leads the dynamic global team behind Target, a leading multichannel growth stock in American retail, as board chairman and CEO. Target, based in Minneapolis, has more than 1,900 stores in all 50 states of the United States, as well as a headquarters in India and global supply chain and sourcing operations.
Target’s purpose-driven team of over 350,000 employees works together every day to help all families find the joys of everyday life.
COMPANY OVERVIEW
The Target Corporation operates general merchandise stores in 49 states, the District of Columbia, Puerto Rico and Guam.Target is a retail corporation that was founded in Minneapolis.
Today, the company has over 1200 stores across North America with headquarters located in Minneapolis. The first store opened on May 1st 1962 selling everything from housewares to furniture for the home.
Target’s goal is to meet customers’ needs both in stores and online by providing one-stop shopping, a broad selection of national brands and exclusive products.
Target Specialty Retail operates over 1,200 stores in the United States and Canada under the Target, SuperTarget and CityTarget names.
It also operates Target.com and mobile applications, which target customers both in stores and online.
HISTORY OF TARGET
Target was established in January 1902 as Goodfellow Dry Goods in Minneapolis, Minnesota. In 1962, it was renamed as Target Dry Goods. The first store opened in Roseville, Minnesota in 1963 and the company was renamed as Target Corporation in May 1969.
The company merged with J.L. Hudson Company in 1969 and it adopted its final name, Target Stores. The following year, it began operation in neighboring Saint Paul and included department store items and a grocery selection.
In 1973 the first Super Target opened; located in Omaha, Nebraska, it was the company’s first hypermarket (a cross between a discount department store and a supermarket). The name was shortened to simply “Target” in 2000.
CONCLUSION
Target Corporation is the second largest discount retailer by revenue in the United States. The company currently has over 1200 locations throughout North America, primarily concentrated in northern U.S., and will have 1400 locations by 2019.
Target carries general merchandise at affordable prices including but not limited to major appliances, linens and bedding, electronics, kitchenware, home décor, sporting goods, toys and clothing. Brands carried include their own private label brands along with well-known national brands such as Nike, Adidas and Michael Graves.
