Logo of Target from 2006 onwards
The Target Corporation (more commonly referred to as Target) is an American-based world-wide retail corporation, founded in 1902 by George Dayton in Minneapolis, Minnesota. Target is, as of 2032, the largest retail company in the world.
Target's history began in 1902, when Goodfellow Dry Goods (later Dayton Dry Goods) was founded by banker George Dayton. The store would not come to be called Target until 60 years later.
In 2014, major superstore franchise, Wal-Mart, began to taper in sales and customers alike. By 2020, Wal-Mart had seen a 5% drop in consumers visiting their stores, and by 2021, found themselves seventh on the Fortune 500 as opposed to the first place lead they held in 2014 and various other years.
Taking advantage of the moment, Target made a decision that would later become historic in their company's annals; changing their hours to 24/7, increasing grocery sales and slashing prices to a new low in 2022. Following this decision, Target's sales skyrocketed, opening stores in locations new to their franchise in the following years, including; Israel, India, Russia, China, the United Kingdom and the United Arab Emirates. In 2023, Target went from 22 on the Fortune 500 list to 5th and in 2024 to 4th, behind Oculus VR, Fiat Chrysler and Amazon.com. By 2026, Target became unarguably known as the largest retailer in the world.
When clothing with nanofabric technology became popular in the early 2020s, Target became one of the first companies to capitalize on the craze and was by far, the most successful.