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3 things to know about a 150yearold Dayton company
The history of Target Corporation first began in 1902 by George Dayton. The company was originally named Goodfellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton. On May 1, 1962, Dayton Company opened its first Target store, designed as a discount version of Dayton's department stores. In 1969 Dayton expanded its department store operations and merged with the J.L. Hudson Company to become the Dayton-Hudson Corporation. Dayton-Hudson later acquired two more retailers: the California-based Mervyn's in. Michael Dayton is a Senior Pension & Employee Benefits Governance Consultant at The Dayton Company, a registered investment advisory firm. Mike has over 22 years experience in the financial services industry primarily focused in servicing retirement plans. He is the co-founder of Ekstra401k which is a national 401 (k) MEP provider and is the co. Dayton's was an American department store chain founded in Minneapolis, Minnesota, in 1902 by George Draper Dayton.It operated several local high end department stores throughout Minnesota and the Upper Midwest for almost 100 years. Although it was regionally known as a high-quality shopping destination, Dayton's is best remembered for starting the discount shopping chain Target.
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Founding of Target. The Target we know and love was born in the 1960s. 1960 1965 1970 1975 1980 1985 1990 1995. The company is one of the largest American-owned private employers in the United States. The corporation was founded in Minneapolis by businessman George Dayton in 1902, and developed through the years via expansion and acquisitions. Target, the company's first discount store and eventual namesake, was opened in 1962. The Dayton Company initial public offering (IPO) took place in 1967. In 1969, the Target Corporation, as it is known today, really came into existence when the Dayton Company merged with Hudson Company, another department store organization, to form the Dayton-Hudson Company (DHC). Like the Dayton Company, the Hudson Company started in the. By 1911, the company was renamed The Dayton Company and became widely known as the Dayton's department store. The new name was created to better reflect the store's "wide assortment of goods.
Iconic sign returns to the Dayton's building in Minneapolis Bring Me
The Dayton Company, as the founder's venture came to be called, continued to operate as a family-owned retailer for years. The changing world of retail in the 1950s and 1960s, however, would offer. The company established the discount chain Target in 1962, opening the first unit in Roseville, Minnesota, and in 1966 decided to enter the highly competitive market of retail bookselling, opening B. Dalton Bookstores. In 1967 the company changed its name to Dayton Corporation and made its first public stock offering.
The Dayton Company Goes Public. In 1965, The Dayton Corporation released its first annual report, comprising its net profit and sales figure. Since the Dayton Family owned 90% of the company's stock, it was still a private brand. And this move was to prepare it to become a public organization in 1967 to transform into a national retailer. The formation of the Dayton-Hudson Corporation was the result of a merger between two prominent regional department store chains, the Dayton Company and the J.L. Hudson Company. The formation of Dayton Hudson Corporation brought together various retail businesses owned by the Dayton family, including Target, as well as other divisions such as Dayton's Department Store and Mervyn's.
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The Dayton Company began looking further than the city of Minneapolis in 1954, according to Target's website. That's the year that the first Dayton's location opened up in Rochester, a Minnesota. History Oasis In a seminal 1969 deal, the Dayton Company merged with the venerable Detroit-based department store chain J.L. Hudson Company, forming the Dayton-Hudson Corporation and establishing a retailing conglomerate encompassing five major chains, including the burgeoning Target discount stores.
