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In 1995, Target Stores opened its first SuperTarget hypermarket in Omaha, Nebraska. It also closed the four Smarts units after only two years of operation. Its store count increased to 670 with $15.7 billion in sales, and in 1996 to 736 units with $17.8 billion in sales. In 1997, both of the Everyday Hero stores were closed. Target’s store count rose to 796 units, and sales rose to $20.2 billion. In 1998, it acquired Greenspring Company’s multi-catalog direct marketing unit, the Rivertown Trading Company, from Minnesota Communications Group, and it acquired the Associated Merchandising Corporation, an apparel supplier. Target Stores grew to 851 units and $23.0 billion in sales. In 1999, it acquired Fedco and its ten stores in a move to expand its SuperTarget operation into Southern California. It reopened six of these stores under the Target brand and sold the other four locations to Wal-Mart, Home Depot, and the Ontario Police Department, and its store count rose to 912 units in 44 states with sales reaching $26.0 billion. On September 7, 1999, it relaunched its website as an e-commerce site and as part of its discount retail division. The site initially offered merchandise that differentiated its stores from its competitors, such as its Michael Graves brand.
2000present: Target Corporation
In January 2000, Dayton Hudson Corporation changed its name to Target Corporation and its ticker symbol to TGT; by then, between 75 percent and 80 percent of the corporation’s total sales and earnings came from Target Stores, while the other four chains—Dayton’s, Hudson’s, Marshall Field’s, and Mervyns—were used to fuel the growth of the discount chain, which expanded to 977 stores in 46 states and sales reached $29.7 billion by the end of the year. It also separated its e-commerce operations from its retailing division, and combined it with its Rivertown Trading unit into a stand-alone subsidiary called In 2001, it announced that its Dayton’s and Hudson’s stores would operate under the Marshall Field’s brand, which was the most recognizable name in the Department Stores Division. Target Stores expanded into Maine, reaching 1053 units in 47 states and $33.0 billion in sales. In 2002, it expanded to 1147 units, which included stores in San Leandro (Bayfair Mall), Fremont, and Hayward, California, and sales reached $37.4 billion, and in 2003 it reached 1225 units and $42.0 billion in sales.
On June 9, 2004, Target Corporation announced its sale of the Marshall Field’s chain to St. Louis, Missouri-based May Department Stores, which became effective July 31, 2004. On July 21, 2004, it announced the sale of Mervyns to an investment consortium including Sun Capital Partners, Inc., Cerberus Capital Management, L.P., Lubert-Adler/ Klaff and Partners, L.P., which was finalized September 2. Target Stores expanded to 1308 units and reached $46.8 billion USD in sales. In 2005, it reached 1397 units and $52.6 billion in sales, and in 2006 it expanded to 1488 units and sales reached $59.4 billion.
In May 2005, Target began operation in Bangalore, India, and these operations currently support all Target business units. In 2006, Target completed construction of the Robert J. Ulrich Center in Embassy Golf Links in Bangalore, and Target plans to continue its expansion into India with the construction of additional office space at the Mysore Corporate Campus.

The point of sale in a Target store
On January 9, 2008, Bob Ulrich announced his plans to retire as CEO, and named Gregg Steinhafel as his successor. This is due to Target Corporation policy which requires its high ranking officers to retire at the age of 65. Ulrich’s retirement as CEO was effective May 1, but he will remain the chairman of the board until the end of the 2008 fiscal year.


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