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Sep 3, 2021 · But a suitor came calling in 1978: a company called Dayton Hudson, which would go on to announce a $291 million acquisition of Mervyn's. At the time, Seeking Alpha quotes the New York Times as saying Mervyn's was strong enough to provide 15 percent of the new company's total revenue.
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Dayton Hudson bought two more jewelers in 1970--C.D. Peacock, Inc., of Chicago, and J. Jessop and Sons of San Diego. Company revenues surpassed $1 billion in 1971. Mervyn's, a line of moderate-price department stores, merged with Dayton Hudson in 1978.
By 1978, the company had grown to a chain of more than 50 stores in three states, and Mervyn's was acquired by the Dayton Hudson Corporation (now Target Corporation). Mervyn's kept its separate identity as a Dayton Hudson subsidiary.
1969: Dayton merges with the Detroit-based J.L. Hudson Company department store chain, forming Dayton Hudson Corporation. 1978: Dayton Hudson acquires the California-based Mervyn's chain of moderate-priced department stores. 1979: The Target chain becomes Dayton Hudson's largest producer of revenue.
Target sold off its Mervyn's stores in a $1.65 billion (~$2.55 billion in 2023) deal to a private investment fund in 2004. (Mervyn's went bankrupt in 2008). In February 2005, May Department Stores merged with Federated Department Stores, owner of Macy's, in an $11 billion (~$16.5 billion in 2023) deal.
Jan 3, 2024 · In 1929, the Dayton Company made its inaugural acquisition by purchasing the Minneapolis-based J.B. Hudson & Son jewelry store, a diversification effort that transpired unfortunately close to the Wall Street Crash that heralded the Great Depression's arrival.
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May 23, 2018 · Dayton Hudson acquires Mervyn's. 1987: Dayton Hudson survives a hostile takeover attempt by Dart Group as well as a bogus counteroffer from an investor who, it was later revealed, had no financial backing. 1997: Dayton Hudson receives the President's Service Award for its community service programs. SOURCES OF INFORMATION Bibliography "company ...
