Does Walmart Own Target in 2024? Who Owns Target...Find it Out

Target is an American retailing company headquartered in Minneapolis, Minnesota. Target stores sell products and services at affordable prices in a smaller store footprint than traditional big-box retailers. In this post, we’ll discuss more about who owns Target. You will know whether or not the retail giant is owned by Walmart, Costco, China, France, or even Australia. Keep reading to find out….

Who owns Target Corporation? Many people have their double about the true owners of Target Corporation. While many know it is an American retail outlet, quite a number are still in the dark. There’s been some rumors that the corporation is in fact owned by Walmart. Some even think that it is owned by Costco. There could be some glimmer of truth in all these. In this article, we have elaborated all that you may want to know with regard to the true ownership of Target.

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Does Walmart Own Target in 2024?

No, Walmart does not own Target. Although the two companies are both large, publicly-traded retail stores, they are not owned by the same parent company. Walmart operates as a subsidiary of Wal-Mart Stores Inc., while Target is a subsidiary of Target Corporation. The two corporations are completely distinct; however, both are headquartered in Minneapolis, Minnesota.

The incorporation dates of the two companies also differ: Target was incorporated in 1902, and Walmart in 1945. Something else worth noting is that the two retail giants are fierce competitors. That and a couple of other factors make it less likely that Walmart is affiliated with Target, let alone owning it.

A Brief History of Target Corporation

Target Corporation is a retail company that operates in the United States and Canada. The company is the second-largest discount retailer in the United States after Walmart.

The company was founded by George Dayton and is headquartered in Minneapolis, Minnesota. It was originally named Goodfellow Dry Goods. That was later changed to Dayton's Dry Goods Company in 1903 and then finally to Target in 2000. Today, Target Corporation operates 1,844 stores across the United States and Canada. It employs more than 345,000 people worldwide. According to recent conservative estimates, it generated a revenue of $73 billion in 2018 alone.

In 2008, the company launched an online business called Target.com to expand its clientele base globally.

How Did Target Get Its Name?

Target store was originally called Dayton's Dry Goods Company during the early days of its inception. Back in the day, Dayton's Dry Goods Company grew quickly and expanded to various locations across Minnesota by 1917. The company was officially renamed The Dayton Company in 1911.

The company continued to grow, and by 1962, it had expanded to a total of 27 locations throughout Minnesota and the Dakotas. After a while, the company’s executive chose to rebrand Dayton’s Dry Goods by renaming it Target in a bit to give it a more modern and futuristic outlook. The former name was seen as being more regional than global.

Who Owns Target Currently?

Target is currently owned by a holding company called Target Corporation. The Dayton Hudson Corporation bought the retail chain in 1969 and ended up renaming it Target in early 2000.

Does Costco Own Target?

Many people think Costco owns Target, but nothing can be further from the truth. Some brief history of the two stores may help put everything into perspective. Target was founded in 1902 by George Dayton. It has had a few different names over the years before being named Target in 2000. The corporation is headquartered in Minneapolis, Minnesota.

On the other hand, Costco was founded in 1976 by James Sinegal and Jeffrey Brotman. It became the Costco Wholesale Corporation in 1997 and is headquartered in Issaquah, Washington. With regard to ownership, this much should be clear; Target is not owned by Costco. The two retail giants are not associated with each other, save for the fact that they both serve the American public.

Is Target a French or Australian Company?

Target is an American company based in Minneapolis, Minnesota. It was founded in 1902 by George Draper Dayton, who ran the business until he died in 1938.

The origins of the word "Target," however, come from the French word "targe," which means “small shield." The origin of this word makes sense when you consider that the purpose of a shield is to protect against harm. Considering that one of Target's functions is to protect its customers from paying too much for their goods, perhaps this explains why some people think that it is a French Corporation.

The name "Target" comes from Dayton's marketing concept: "a store aimed at a class of people other department stores did not serve." The name also references the bullseye logo of the company, which emphasizes its focus on serving customers. Despite being American-based, the company does have a few global stores—notably in Australia and France. The bottom line, Target is neither a French or Australian company. It is an American company.

Does China Own Target?

China does not own Target. The corporation is based in the United States. The company was founded by George Draper Dayton in 1902 and is currently headquartered in Minneapolis, Minnesota.

It's easy to understand how there might be confusion about Target's origins because it has many stores in China, Canada, and Australia. It also works with Chinese manufacturers and other foreign companies. However, Target is legally based in the United States and has been since its founding over one hundred years ago.

Is Target American Owned?

Yes, the target is American-owned. The discount store was founded by George Dayton. Currently, the company is headquartered in Minneapolis, Minnesota, and as a workforce of approximately 350,000 employees. Today Target operates more than 1,800 stores in the U.S., including a growing number of small-format stores designed to meet the needs of busy urban areas or densely populated suburban neighborhoods where a traditional store might not fit in well.

What is Target Known For?

Target is known for its affordable prices, often 10-30% less than department stores. It has a reputation for having high-quality products at lower prices than competing stores such as Costco and Walmart.

It's also known for being a fashion-forward chain with design collaborations with top designers and stores like Kate Spade New York, Hunter Boots, Lilly Pulitzer, and Michael Graves.

Target also has a reputation for being a socially conscious company. In recent years, they have begun to eliminate gender bias from their children's sections and are committed to using environmentally sustainable and ethically sourced materials.

Who Is the Current Target CEO?

The current CEO of Target is Brian Cornell, who has served as the company's CEO since 2014. Before that role, he was at PepsiCo as president of the Americas division. He also served as CEO of Sam's Club, a division of Walmart, for five years. Since taking his position at Target, Cornell has focused on improving the quality of customer experience and expanding Target's digital footprint.

How Wealthy Is the Current Owner of Target?

Target is currently owned by Brian Cornell, who has been the chairman and CEO of Target Corporation since August 2014.

In 2016, his annual salary was $16.5 million. In 2017, that increased to $17.4 million. From 2015 to 2016, his total compensation increased from $16.1 million to $23.4 million, an increase of $7.3 million, or 45%.

The company itself had revenue of $71 billion in 2017 and a net income of $2.8 billion in the same year, which means it's doing pretty well overall. Brian Cornell is doing pretty well too, considering his hefty compensation while at the helm of Target Corporation.

What Companies Are Owned by Walmart?

It's no secret that Walmart is the world's largest retailer. It comes as less of a surprise that the company has quite a few subsidiaries in addition to its brand, which include:

Asda: It primarily sells grocery products and has headquarters in Leeds, England. It was founded in 1951 and is owned by Walmart, Inc.
Sam's Club: It primarily sells goods such as furniture, electronics, kitchenware, foods, and apparel. It was founded in 1983 and is owned by Walmart Stores Inc.
Netto: This German chain operates more than 300 stores throughout Germany, Austria, Switzerland, and Liechtenstein. Its activities include clothing and footwear retailing, clothing repair center, and online shopping. The company was founded in 1960 and is owned by Sainsbury's Group Plc., a subsidiary of Walmart Stores, Inc.
PudongZhong Bai: It primarily operates stores in China. The Chinese Walmart subsidiary focuses mostly on restaurants, supermarkets, and convenience stores. The company was founded in 1991.
Best Price Modern Wholesale: Best Price Modern Wholesale (or BMP) is a joint venture between Bharti Enterprises and Walmart that operates wholesale stores and cash-and-carry operations in India. BMP has 21 Best Price Modern Wholesale stores, which serve more than 7,500 local retailers, hotels, restaurants, offices, caterers, and small businesses.
Seiyu Group: Walmart wholly owns this Japanese retailer. Seiyu operates 379 stores in Japan and has been a subsidiary of Walmart since 2008.

How Many Target Stores Are There in the U.S. Currently?

Target currently has over 1900 stores in the United States. The first Target store was opened in 1962 in Roseville, Minnesota. By 1971, there were 20 Target stores across five states. Currently, that number has grown to 1900+ stores in 49 states and in the District of Columbia.

Conclusion

Walmart does not own Target, and neither does Target own Walmart. The company is owned by Target Corporation and is based in the United States. Since its founding back in 1902 by George Draper Dayton, Target has remained among the most successful American discount stores, thanks to its affordable pricing and quality customer experience.