Editor's note: The settlement announced Tuesday by Target is intended to resolve costs incurred by the retailer's 2013 data breach. That attack reportedly exposed 40 million credit and debit cards to fraud. - Tom
Target Corporation is an American retailing company, founded in 1902 and headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked 36th on the Fortune 500 as of 2013 and is a component of the Standard & Poor's 500 index.
The first Target store was opened in 1962 in Roseville, Minnesota. Target eventually became the largest division of Dayton Hudson Corporation, culminating in the company being renamed Target Corporation in August 2000.
Target currently operates 1,934 stores in North America. It began operations in Canada in March 2013 and operated 127 locations through its Canadian subsidiary. By 2015, it had 133 stores in Canada but on January 15 of that year, Target announced that it would be closing all of them, putting 17,000 people out of work. The last Canadian locations closed their doors on April 12, 2015.
In December 2013, a data breach of Target's computer systems affected about 110 million customers.