Does target use artificial intelligence? : Target Chief Artificial Intelligence Officer Talks To Rebellion Research On His New Book : Target Corporation is an American retail corporation. The eighth-largest retailer in the United States, it is a component of the S&P 500 Index. Its largest competitors, Walmart and Amazon.com, are the first and second largest retailers, respectively.
Target established itself as the discount division of the Dayton’s Company of Minneapolis, Minnesota, in 1962; it began expanding the store nationwide in the 1980s. As a result of being part of the Dayton-Hudson Corporation. And introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry.
Target suffered from a massive and 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. As of 2019, Target operated 1,844 stores throughout the United States. Furthermore, the company is ranked number 37 on 2020 Fortune 500 list of the largest United States corporations by total revenue. Their retail formats include the discount store Target, the hypermarket SuperTarget, and “small-format” stores.
The exterior of a typical Target store in Rock Hill, South Carolina, in May 2012 (Store #1371)CVS Pharmacy inside of a Target store (store #1910 in Savannah, Georgia)
The first Target discount store opened in Roseville, Minnesota, on May 1, 1962. Present-day properties are roughly 135,000 square feet (12,500 m2) and sell general merchandise, including hardlines and softlines. 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. Initially, only SuperTarget locations operated Starbucks Coffee counters.
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Target introduced the “PFresh” store prototype in 2006, which expanded its grocery selection in general-merchandise locations by upwards of 200%. Newly constructed stores that follow the PFresh format are roughly 1,500 square feet (140 m2) larger than properties without groceries, although retain the Target branding because their offerings are considerably more limited than SuperTarget.
PFresh sells perishable and frozen foods, baked goods, meat, and dairy. The company remodeled 109 stores accordingly in 2006, and renovated another 350 stores the following year. The company’s decision to close their garden centers opened floor space for PFresh expansion. In addition, larger seasonal departments beginning in 2010.
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Furthermore, 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 Target pharmacies were rebranded as CVS Health pharmacies, which totaled 1,672 pharmacies in February 2016. The Target clinics were also rebranded as MinuteClinic. Lastly, the acquisition of the Target pharmacies enabled CVS to expand its market into Seattle, Denver, Portland, and Salt Lake City.