The company has over 11,000 stores in 27 countries, including Chile, Mexico, and Guatemala. Because Walmart has effectively penetrated the worldwide market, it stands to reason that its competitors, such as Target, can do the same (TGT). In addition to the United States, Canada, China, Germany, India, Italy, Japan, South Korea, Spain, and the United Kingdom all license or have targets stores.
In 1998, then-Walmart CEO Lee Scott announced a plan to open 100 Target stores by 2002. Today, Target boasts of being the largest retailer in America. However, when you compare Target with Walmart, they are still considerably smaller than their competitor.
Target was founded in 1932 by Herbert S. Kroc. He had just sold his grocery store chain to get funds together to open his first restaurant, which happened to be a hamburger joint called The McDonald's. Impressed by the success he saw there, Kroc decided to open more restaurants of his own and named them after themselves. One of these restaurants was called The Target Cafe and it was opened in 1955 with 10 employees. Today, there are over 11,000 Target stores across the world.
Herbert S. Kroc also played an important role in the development of Walmart.
The number of stores is 7% of the total for Wal-Mart. 3. There are 296 Wal-Mart stores in California, employing 81,326 workers. In addition, the state has 14 distribution centers. California is home to 6% of all Wal-Mart locations. As a result, three states account for one-quarter of all Wal-Mart stores. Florida has one-third of all Wal-Mart locations with 46 stores.
Wal-Mart's success can be attributed to its low prices and wide selection. The company operates under a simple motto: "Save Money. Live Better." By offering low prices on everyday household items, including food, drugs, and hygiene products, Wal-Mart has been able to attract customers who would otherwise not buy these products at all. The company also offers financial services such as credit cards and insurance.
In California, unemployment is 8.4%. Poverty rates reach 13.5%. Infant mortality rates are high at 5.3 deaths per 1,000 births. Crime rates are also high: 2,241 robberies per 100,000 people.
Wal-Mart's low prices have helped make poverty history by creating affordable goods that allow more people to live better lives. The company has also improved the living conditions of those in need by donating money to causes like schools and hospitals. By providing jobs for Americans who might not find other work, Wal-Mart has also contributed to reducing crime by giving people something productive to do with their time.
The Target Corporation operates a chain of general goods stores that provide its consumers with a wide range of general products and meals. Since its beginnings, the corporation has mostly operated in the United States. Target had have a handful of locations in the Canadian market, however all of them were shuttered in 2015.
Target was founded in 1932 by John W. Target as a family-owned business. He hired his brother Victor A. Target to be his first employee. The two brothers decided to expand their small store in Benton Harbor, Michigan into a nationwide chain by opening more than 100 stores over the next few years. In 1950, John W. Target passed away at the age of 42. The company was then managed by his wife Helen and their three children: Nancy McCall, John IV and Victor III.
After the death of its founder, Target continued to grow aggressively. It opened its first location outside of the United States in 1969. At the time, it was located in Hong Kong but closed less than a year later, due to poor sales performance. In 1972, Target acquired the assets of Broadway Stores, another U.S.-based retailer, for $8 million. Two years later, it sold most of its shares back to Broadway for $16 million so it could focus on growing its overseas operations.
In 1980, Target opened its 100th store.
Walmart and Target are both low-cost retailers with massive revenues. Walmart is almost 20 times the size of Target as of 2019. Walmart owns and operates supercenters, some of which are over 180,000 square feet in size, with the goal of offering the lowest possible price. Target sells general merchandise at its 2,175 stores nationwide. In addition to having the largest retail store base, Walmart also has the highest revenue per employee among all companies in the United States.
Both Walmart and Target have more than 10 million customers and billions of dollars in sales. However, only one can be called the king of cheap clothes. Walmart tends to offer cheaper prices on most items, although this isn't always the case (for example, Target often has lower prices on groceries).
In conclusion, Walmart has more stores but Target has more revenues per employee. This shows that even though Walmart has many more stores, they don't make much money because most of their profits come from bulk purchases of products they will probably sell for a loss. Target on the other hand makes money by selling high-quality goods at reasonable prices.