text: analysis on target stores?   target corporation is the fourth largest retailer in the united states, operating 1,556 stores in 47 states. formerly dayton hudson corporation, target has three main retail divisions: target stores, mervyn's, and marshall field's. target stores is the number two discount retailer in the country, trailing only wal-mart stores, inc., and has distinguished itself from its competitors by offering upscale, fashion-conscious products at affordable prices. the 1,225 target stores, which are located in 47 states, generated 84 percent of target's fiscal 2002 revenues. included in this store count are target greatland units, which are much larger than the typical target store, averaging 145,000 square feet versus 126,000 square feet; as well as supertarget outlets, which are combined discount/grocery stores, averaging 175,000 square feet. generating 9 percent of 2002 revenues were mervyn's 267 stores situated in 14 states, primarily in the west, southwest, and midwest (specifically minnesota and michigan). based in the san francisco bay area, mervyn's positions itself as a chain of moderately priced, family friendly, neighborhood department stores. target corporation's full-service department store division, contributor of 6 percent of sales, is now consolidated under the marshall field's banner. the 62 marshall field's stores (which include locations that formerly operated under the dayton's and j.l. hudson's names) are located in eight states in the upper midwest, with the majority found within three metropolitan areas: minneapolis, chicago, and detroit. target corporation's philanthropy has been and still is legendary. in 1989 the corporation received the america's corporate conscience award for its magnanimity, and target contributes more than $2 million each week to the communities in which its stores are located.  early years ---------------------------- target corporation bears the strong imprint of its founder, george draper dayton. dayton's father, a physician in new york state, could not afford to send him to college, in part because the doctor freely gave his services to the poor. hence dayton set off on his own in 1873 at age 16 to work in a coal and lumberyard. a workaholic, he undermined his health and a year later had to return to the family home to recuperate. undeterred, he went on to become a banker. less than ten years later, in 1883, he was rich enough to buy the bank of worthington in minnesota. meanwhile he had married and had become active in the presbyterian church.  dayton's connection with the presbyterian church proved to be instrumental to the rise of his dayton company. in 1893, the year of a recession that sent local real estate prices tumbling, the westminster presbyterian church in minneapolis burned down. the insurance did not cover the cost of a new building, and the only other source of income, a corner lot next to the demolished church, was unsalable because the real estate market was doing poorly. the congregation prevailed on the dayton family, who were faithful members of the church, to purchase it so the building of a new church could proceed. dayton bought it and eventually erected a six-story building on the lot. casting about for tenants, he decided to buy the nearby goodfellow dry goods store and set it up in the new building. in the spring of 1902 the store was known as the goodfellow dry goods store; in 1903 the corporate name was changed to dayton dry goods company, then seven years later simply dayton company, the forerunner of dayton hudson corporation and, ultimately, target corporation.  eventually the store would expand to fill the six-story edifice. dayton, with no previous experience in the retail trade, wielded tight control of the company until his death in 1938. his principles of thrift and sobriety and his connections as a banker enabled the company to grow. as long as he was at the helm, the store was run as a fami