NEW YORK — Target Corp. co-founder Douglas Dayton passed away during the weekend, according to published reports. He was 88.
According to Reuters, Dayton is survived by his wife, Wendy, four children and six grandchildren.
Target began as a family-owned company, merging with the J.L. Hudson department store chain in 1969. Dayton became president of Target in 1961, and senior vice president following the merger. The Dayton Hudson Corp. changed its name to Target in 2000. Dayton left the company in 1974.
In other news, the mass merchandise retailer said Thursday its Canadian division would open 20 new stores in British Columbia, Alberta, Saskatchewan and Ontario between the middle and end of this month. The company plans to open 124 stores across Canada this year.