SEC Filing Summary: Dayton Hudson Corporation (Target Corp)
Business Context and Reporting Period
This Form 10-K is an annual report for Dayton Hudson Corporation (parent of Target Corp) for the fiscal year ended January 28, 1995. The company, incorporated in Minnesota in 1902, operates retail divisions including Target and Mervyn's. The report incorporates by reference the 1994 Annual Report to Shareholders and the Proxy Statement dated April 19, 1995, for detailed operational and financial data.
Key Financial Metrics
The specific numerical values for revenue, profit, cash flow, margins, debt, and liquidity are not contained in the text of this filing; they are incorporated by reference from the 1994 Annual Report to Shareholders (Pages 21-33). However, the following data points are explicitly provided:
- Stock Price: $71.50 per share of Common Stock (as of March 31, 1995).
- Market Value: Aggregate market value of voting stock held by non-affiliates was approximately $5.49 billion.
- Shares Outstanding: 71,719,871 shares of common stock (as of April 1, 1995).
- Allowance for Doubtful Accounts (1994): Beginning balance of $35 million; additions of $66 million; deductions of $55 million; ending balance of $46 million.
Material Changes and Operational Updates
The filing highlights significant leadership changes effective in 1994 and 1995:
- Executive Leadership: Robert J. Ulrich became Chairman and CEO in 1994. Kenneth B. Woodrow became President of Target in 1994. Douglas A. Scovanner joined as Senior Vice President and CFO in 1994.
- Subsidiary Management: Paul W. Sauser serves as President and COO of Mervyn's, a subsidiary of the registrant.
- Legal Proceedings: Specific details on legal proceedings are incorporated by reference from the 1994 Annual Report (Page 25).
Guidance, Risks, and Contingencies
Management's Discussion and Analysis (MD&A), including guidance, outlook, and risk factors, is incorporated by reference from the 1994 Annual Report to Shareholders (Pages 14-20). The filing notes the existence of pension plans and postretirement health care benefits, with specific details also incorporated by reference. No specific new risks or unusual items are detailed in the text of this cover document.
Investor Verification Checklist
- Verify the full Consolidated Results of Operations and Balance Sheets in the 1994 Annual Report to Shareholders, as this 10-K does not list total revenue or net income figures.
- Review the 1994 Annual Report (Pages 14-20) for Management's Discussion and Analysis regarding future performance objectives and risks.
- Confirm the details of Legal Proceedings and Commitments and Contingencies referenced on Page 25 of the 1994 Annual Report.
- Check the Proxy Statement (April 19, 1995) for details on executive compensation and director elections.
- Review the Valuation and Qualifying Accounts (Schedule II) for trends in the allowance for doubtful accounts, which increased from $35 million to $46 million in 1994.