Target began back in 1902 after the Westminster Presbyterian Church burned down in Minneapolis, MN. George Dayton was a banker and a member of the parish so the other members of the church looked to him to assist with rebuilding. He bought a six story building and went into business with the Reuben Simon Goodfellow Company to have them lease part of the new building. George Dayton acquired the Goodfellow Department store from the owner who retired and in 1910 he renamed it the Dayton Company. George Dayton had no expertise in the retail field but this became his family business. He founded a charity and gave away most of his money through humanitarian projects all through the Dayton Foundation. The six story building was filled by the 1920s and the Dayton Company became a multimillion dollar business. The Dayton Company expanded in Minneapolis, MN by purchasing a jewelry store but unfortunately this business transaction occurred prior to the depression but it came out of the economic crisis unscathed. …show more content…
The family managed to keep the store stocked and helped those citizens in need. The revenue increased during this time and the Dayton Company offered health and retirement benefits to all staff members. The company also continued to contribute to the Dayton Foundation in an effort to keep George Dayton’s dream alive of giving back to the community. On May 1, 1962, the Dayton Company opened its first department store under the name ‘Target’ in St. Paul Minnesota. The family had a more modernized and tougher management style and broke from their founder’s Presbyterian ways. According to the Target 201 Annual report the company now operates 1802 stores throughout the United