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Exhibit 1: Department Store Industry

Exhibit 1: Department Store Industry. Market Capitalization. Sales. $335 Billion. $307 Billion. Traditional. 19%. 9%. 14%. Middle Market. 17%. 77%. 64%. Discount. Exhibit 2: Price Comparison. Study conducted in New Hampshire in May 2000. Exhibit 3: Target Store Density 2000.

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Exhibit 1: Department Store Industry

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  1. Exhibit 1: Department Store Industry Market Capitalization Sales $335 Billion $307 Billion Traditional 19% 9% 14% Middle Market 17% 77% 64% Discount

  2. Exhibit 2: Price Comparison Study conducted in New Hampshire in May 2000

  3. Exhibit 3: Target Store Density 2000

  4. Exhibit 4: Target Corporation Sales Growth

  5. Exhibit 5 Dayton Corporation and J.L. Hudson Company merge to form the Dayton Hudson Company Target launches store credit card and opens the 1st SuperTarget Target Stores become the top revenue producer George Dayton opens Goodfellows in Minneapolis The Dayton Company opens their 1st discount store: Target DHC changes its name to Target Corporation 1902 1962 1971 1979 1995 2000 1946 1967 1978 1990 1997 2001 Dayton Corporation has its first public offering of common stock The Dayton Company begins the tradition. 5% of profits are donated to communities DHC acquires Mervyns becomes the 7th largest retailer in the U.S. Target launches Target Smart Chip Visa card DHC acquires Marshall Field’s DHC acquires Rivertown Trading Company and The Associated Merchandising Corporation

  6. Exhibit 6: Guest Demographic Profile Fred Meyer Sam’s Club Target Wal-mart Kmart Meijer Shopko Ames Costco 44 46 47 47 45 47 47 47 46 Median Age (female) $62 $53 $36 $44 $48 $46 $42 $44 $51 Median Income ($000) 43 38 21 36 33 34 29 32 40 % College Graduate + 38 % Professional/ Managerial 31 29 35 33 31 21 37 40 % with Children <18 at Home 41 38 35 36 38 35 35 38 40

  7. Exhibit 7: Target Stock ChartCompared to Wal-mart and Kmart 1992-2002

  8. Exhibit 8: Wal-Mart Sales Breakdown Other 5% 5% 4% 18% International 12% 30% 20% Supercenters 59% 14% Sam’s Club 33% Discount Stores 1995 2000

  9. Exhibit 9: DiscountersOperating Profit % To Sales

  10. Exhibit 10: Target, Wal-mart, Kmart Gross Days in Inventory

  11. Exhibit 11: Item Location Sales Performance of Clorox, Skokie Illinois Item Specific SKU Location City, State, Demographic Region

  12. Exhibit 12: Evolution of GRM Strategy All Brand Target, Target Financial Services, Marshall Field’s, Mervyn’s Complexity One Channels Store, Web, Guest Clubs, Direct Mail, Smart Card Single Multi

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