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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.
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.
- Hope Ngo
Mervyn's, a line of moderate-price department stores, merged with Dayton Hudson in 1978. That year Dayton Hudson became the seventh-largest general merchandise retailer in the United States, its revenues topping $3 billion in 1979.
It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's. In 2000, the Dayton-Hudson Corporation was renamed to Target Corporation.
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.
The company became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and formerly held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's. The parent company was renamed the Target Corporation in 2000.
Aug 30, 2021 · Mervyn’s became so successful it went public in 1971 and seven years later Dayton Hudson – the company that would become today’s Target after shedding its department store brands – bought...
