Target
Expect More. Pay less
Financial Statement Analysis
Robert Grothe
Lauren
Company Profile
Target Corporation is an American retailing company with headquarters in Minneapolis,
Minnesota. The company was founded under the name of Dayton Dry Goods Company
and its history goes as far back as 1902. As the company continued to grow, in 1962 The
Dayton Goods decided to expand and entered the discount merchandising sector with its
first Target store in Roseville, Minnesota. By 1970, Target Corporation increased its
revenues to $1 billion, and in 1980 the revenues were $10 billion. (www.target.com)
Target success relates to the company’s strong mission statement which is to create great
value and deliver outstanding customer service in order to make Target stores the preferred
destination for shoppers. The brand promise, Expect More. Pay Less helped the company
deliver a more convenient, personalized shopping experience while offering increased
savings and competitive prices to its guests.
Today, Target is considered the second largest discount retailer in the United States, after
Wal-Mart. According to CNN.Money in the Fortune 500 companies Target is ranked
number 33 in the General Merchandising Industry. Its main competitors are Wal-Mart,
Costco, and Kmart.
Based on 2010 Annual Report, Target showed $67,390 million in revenues, which
represents a growth of 3.1% from 2009. The company’s market value is $34,618.5 million,
its Stakeholders’ Equity is $15,487 million, and its recorded profits are $2,920 million.
(http://money.cnn.com/magazines/fortune/fortune500/2011/snapshots/2303.html)
Based on 2009 and 2010 Target Annual Report, the following report will provide a detailed
