In 1902, George Dayton bought out the company Goodfellows and renamed it to the “Dayton Dry Goods Company.” An employee named John. F. Geisse thought of the idea of an upscale discount-relating store. In 1962, the Dayton Company used Geisse’s idea and opened its first store in Minnesota called “Target,” currently owned by Target Corporation. With more than 1,750 stores across the country, Target has grown into a household staple brand. In fact, Target mega-brand is second only to Wal-Mart.
Early this year, Target Corporation announced that it would expand internationally into Canada. Target Corporation bought 220 leaseholds for Zeller from the Hudson’s Bay Company for $1.8billion. Currently, Target Corporation in Canada is just doing business as Zellers and will convert and rebrand about 150 stores by 2014. MSNBC reported that 70% of Canadians were aware of the Target brand, and, in fact, 10% of Canadians have shopped at their stores in the last year. Though many of the product line will change, Target Corporation will not compromise its fundamental principle of high-equality bargain buying.
Although it is still known as the "other" discount retailer, Target ranks higher than Wal-Mart when it comes to the happiness of its employees, according to CareerBliss.com. At the end of August, Target received the honor of the website's annual "Leap Awards" which highlights changes in workforce. Heidi Golledge, the site's chief executive, points out that Target surpassed more than 250,000 other companies for the coveted title, including big names such as Bank of America and Wal-Mart.
CareerBliss.com sets the criteria for the Leap Award, which includes, "work-life balance, one’s relationship with the boss and co-workers, the work environment, job resources, compensation, growth opportunities, company culture, company reputation, daily tasks, and job autonomy." Matt Miller, the chief technology officer at Career Bliss.com, stated, "Target demonstrated strong, positive employee feedback in every field, with the strongest employee happiness in senior management and compensation." Strong marks in set categories, coupled with the fact that Target employees' happiness approval ratings rose 12 percent from last year, led to the company's win.
Target is famous of its philanthropy as a corporation, and is ranked number 22 in in Fortune Magazine's "World's Most Admired Companies" for 2010. Furthermore, Target Corporation...