First Distribution Center: Target - 1969 in Fridley, Minnesota. $130M in sales on 11 units; Walmart - 1970 in Bentonville, Arkansas. $44.2M in sales on 38 units w/ 1500 employees.
Noted Acquisitions: Target - 1969 Lechmere Electronics in New England. 1982 Fedmart in Arizona, California and Texas; Walmart - 1991 The Wholesale Club (John F Geisse's company). 1994 Woolco's Canadian discount retail units.
Profitability: Target - 1965; Walmart - 1962
Founding: Target - 1962 with 4 stores in Minnesota. Founded by the John Geisse for Dayton family (also the founders of B. Dalton book stores). The Dayton family had had investments in department stores since 1902; Walmart - 1962 with 1 store in Rogers, Arkansas. Founder Sam Walton had experienced previous success with running a Ben Franklin discount retail franchise.
Technology Infrastructure Milestones: Target - 1969, Computerized distribution system; 2004 RFID inventory tracking trials; Walmart - 1987, Satellite network allowing inventory and sales communication between all stores.
Target was an investment from the get-go. The Dayton's were the investors, and Geisse was the visionary who understood and founded the discount retailing business model. The Company grew through acquisition and strategic investment - even booting the founder (Geisse) in 1968.
Walmart was a spin-off of an existing discount retailer franchise. Sam Walton understood his customers, and his business from a local level. He grew the company organically from town to town at first because its all he was familiar with. The company was built from the ground up to distribute and market discount retail products.
