Target
Country
United States
Sector
Retail
Offices
-
Employees
-
Brand value
$15,267m
Brand rating
AA
Enterprise value
$52,484m
Value / market cap
29.1%
This brand has received no votes.
Market cap
* For banks, enterprise value is substituted with market cap. Source: Bloomberg Finance L.P.
Performance of the brand
Target is the second-largest discount chain in the United States behind Walmart and was ranked 33 in the Fortune 500 2011. Today, Target operates nearly 1,750 stores in 49 states, including more than 240 SuperTarget® stores that include an upscale grocery shopping experience. In addition to the photo processing centers, pharmacies and Food Avenue® restaurants found in almost every Target, SuperTarget stores include in-store bakery, deli, meat and produce sections.
The retailer’s newest growth initiative, CityTarget, will allow it to serve Target customers in densely populated urban areas with an assortment tailored to their needs. Target expects to open the first small urban-format stores in Seattle, Los Angeles, Chicago and San Francisco in 2012.
Target recorded revenues of $67,390 million during the financial year 2010 (FY2010), an increase of 3.1% over FY2009. Its net earnings grew to $2,920 million in FY2010, compared to net earnings of $2,488 million in FY2009. Household essentials represent the primary source of revenues representing 24% of total sales in 2010, followed by 20% for hardlines, 20% for apparel & accessories, 19% for home furnishings, and 17% for food & pet supplies.
Target managed to maintain its AA brand rating in 2011. Our 2011 figures show that Target currently has a brand value of $15,357 million, which represents a 4% decrease from their 2010 value of $15,989 million. At the same time, enterprise value fell to $46,283 million in 2011 compared to $52,694 in 2010. However, Target went down from its ranking as number 34 in 2010 to rank 44 in 2011.
Positive Aspects
Since 1946, Target has given 5% of its income to communities
At Target, a significant proportion of its giving goes toward funding education, with a focus on helping more U.S. students read proficiently by the end of third grade. Through programmes like Take Charge of Education® and Target School Library Makeovers, and events like Read Across America, we’re helping kids reach their full potential. Target’s commitment to education reached a key milestone in 2010 with the announcement of plans to donate more than $500 million by the end of 2015, bringing the support of education to more than $1 billion. Further, Target’s community outreach initiative also includes social and voluntary services, crisis relief, as well as military and veteran support.
Target engages in environmental protection through climate change and energy efficiency initiatives
18 stores in California and three in Hawaii draw about 20% of their annual electricity needs from their own rooftop solar-panel systems. In addition, all stores in the Los Angeles Basin in Southern California use energy from a local methane plant. Another area focus is transportation where it continuously employs new programmes to increase the use of clean trucks that use diesel or liquefied natural gas. Target further continually evaluates new technology to maximize energy efficiency. It has upgraded old stores and opened new stores with energy-efficient lighting and HVAC equipment. Installing LEDs in its coolers helps to save 50 percent in energy consumption, and the retailer further uses motion sensor lights that shut off if customers aren’t in the aisles. As a result, Target was named one of the World’s Most Ethical Companies by the Ethisphere Institute
Fostering an inclusive culture
Due to its strong diversity management, the Profiles in Diversity Journal honoured Target with its 2011 Diversity Leader Award.
Negative Aspects
Target Corp. was sued in 2010 for advertising Silk soymilk as organic although it wasn’t
The Wisconsin-based farm policy research group discovered Target nationally advertised Silk soymilk in newspapers with the term "organic" pictured on the carton's label, when in fact the manufacturer, Dean Foods, had quietly shifted their products away from organics. In September 2007, the U.S. Department of Agriculture already threatened to revoke the organic status of Aurora Organic Dairy, a Colorado farm that supplies Target, and other stores, with milk. Target has also been sued in 2007 for labelling their private label Archer Farms milk as organic although it wasn’t.
Last changed September 2, 2011
League tables
Target appears in the following brand league tables:
Rank 51 in the
Global 500 2012.
Rank 5 in the
Best Retail Brands 2012.
Rank 45 in the
Global 500 2011.
Rank 45 in the
Global 500 2011.
Rank 5 in the
Best Retail Brands 2011.
Rank 35 in the
Global 500 2010.
Rank 31 in the
Global 500 2009.
Rank 46 in the
Global 500 2008.
Rank 54 in the
Global 250 2007.
2012 brand performance*
Brand value
$15,267m
Brand rating
AA
Enterprise value
$52,484m
Value / ent. value
29.1%
* Figures taken on 31st December 2011.
2011 brand performance*
Brand value
$15,989m
Brand rating
AA
Enterprise value
$52,694m
Value / ent. value
30.3%
* Figures taken on 31st December 2010.
2010 brand performance*
Brand value
$15,224m
Brand rating
AA
Enterprise value
$51,678m
Value / ent. value
29.5%
* Figures taken on 31st December 2009.
2009 brand performance*
Brand value
$12,253m
Brand rating
AA
Enterprise value
-
Value / ent. value
-
* Figures taken on 31st December 2008.
The Target logo has changed several times, with the most significant change being the use of a single circle with a dot in the middle, rather than the original three circle symbol.
Mission statement
From the Target Corporation website:
“Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less.® brand promise.
To support our mission, we are guided by our commitments to great value, the community, diversity and the environment.”
Brand history
R.S Goodfellow Company was acquired by George Dayton in 1901. He soon changed the name to the Dayton Dry Goods Company, then the Dayton Company in 1910. The first Target discount store wasn’t opened until 1963. In 1969 a major merger occurred between Dayton Company and J.L. Hudson Company. This merged group then acquired Mervyn’s in 1978 and Marshall Field’s in 1990. It wasn’t until 2000 that the Target brand name was used in the title of the company, when the original name - “Dayton Company”, was dropped and replaced by “Target Corporation”. The name change was made as over 75 per cent of the corporation’s revenue was from the Target division. The Target Corporation announced in 2001 that its Dayton’s and Hudson’s brands would operate under the Marshall Field’s brand, rather than how the three brands had previously been operating, as a single unit known as the Department Store Division. In 2004 Target Corporation announced the sale of the Marshall Field’s chain and several Mervyn’s stores, followed by the sale of the remaining Mervyn’s stores later that year.
Wikipedia page: Click here
Logo
The Target logo is a red circle with a dot in the middle to symbolize a bulls-eye, with the brand name in capital lettering underneath which is also red.
Strapline
Target use the slogan ‘Expect More. Pay Less.’ The company refers to the slogan as a brand promise rather than just a catchphrase, and it is promoted widely in virtually all Target advertising campaigns.
Advertising
Sponsorships
Target owns the rights to a baseball park; Target Field, and an arena; Target Centre, home to various Minnesota sports teams.
Target is a long term sponsor of the Chip Ganassi Racing team of IndyCar, and also sponsors NASCAR.
Target Corporation is a major sponsor of the annual Minneapolis Aquatennial, where it hosts the Target Fireworks Show, which is the fourth largest annual fireworks show in the United States.
The Museum of Modern Art in Manhattan, New York is also sponsored by Target, where it hosts Target Free Friday Nights whereby all visitors may enter the museum free of charge on Friday’s after 4 p.m. Target sponsors various other museums and art exhibitions in a similar way, giving visitors free admission on a certain day of the week.
