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Target Corporation Essay

1018 words - 5 pages


Company History
* Founder George Dayton opens his first store, named Goodfellows, in downtown Minneapolis, Minn., in 1902.
* In 1946, The Dayton Company begins the tradition that keeps us strong today: 5 percent of profits go back to the communities we serve.
* In 1956, The Dayton Company opens Southdale, the world’s first fully enclosed two-level shopping center.
* In 1962, the Dayton Company enters discount merchandising with the opening of its first Target store in Roseville, Minn.
* In 1967, Dayton Corporation goes public with its first offering of common stock.
* In 1969, the company merges with J.L. Hudson Company and ...view middle of the document...

* In 2001, Dayton Hudson Department Store division changes its name and all of its stores’ names to Marshall Field’s.
* Also in 2001, Target rolls out its Target Visa card nationwide.
* In 2002, the company celebrates the 40th anniversary of Target Stores and marks the 35th year of being a publicly traded company.
* In 2004, Target Corporation sells its Marshall Field’s and Mervyn’s businesses to focus on its primary brand and growth vehicle: Target Stores.
* In 2005, revenues exceed $50 billion.

Liquidity Ratios

Current Ratio= Total Current Assets/Total Current Liabilities
Current (or Acid) Ratio= Total Quick Assets /Total Current Liabilities
Debt Ratio=Total Liabilities/Total Assets

Target | 2007 | 2008 | 2009 | 2010 | 2011 |
Current Ratio | 1.352 | 1.500 | 1.580 | 1.556 | 1.299 |
Quick Ratio | 0.571 | 0.661 | 0.636 | 0.584 | 0.462 |
Debt Ratio | 62.67% | 71.13% | 67.44% | 66.85% | 68.49% |
Wal-Mart | | | | | |
Current Ratio | 0.844 | 0.872 | 0.878 | 0.871 | 0.880 |
Quick Ratio | 0.133 | 0.151 | 0.165 | 0.219 | 0.176 |
Debt Ratio | 61.79% | 60.95% | 59.73% | 63.60% | 63.40% |

As you can see from the table, Target has maintained a higher current ratio in all five years. However, its current ratio took a dive in the past year, wiping out three impressive years of improvement, and then some. Wal-mart’s current ratio has been flat over the past two years, but has shown nice improvement since 2007. In terms of the quick ratio, Target is again higher, but their numbers have come down each year since 2008. Wal-Mart showed improvement in the first three years, but its quick ratio has come down a bit in the last year.
In terms of the debt (liabilities to assets) ratio, Wal-Mart has always had a lower number, meaning it finances its assets with more equity than debt. Both companies have seen their debt ratios increase since 2007, but Wal-Mart has seen a lesser increase. Neither of these numbers indicates any current financial trouble. Overall, these numbers show that Target has better short-term liquidity, but Wal-Mart has better...

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