Ross Stores vs Target: Founders, CEOs and History
Ross Stores was founded in 1982 by Morris Ross, Bill Isackson, Stuart Moldaw and is led by James G. Conroy. Target was founded in 1902 by George Dayton and is led by Michael Fiddelke.
Company facts
Ross Stores
- Founded
- 1982
- Headquarters
- Dublin, California
- Current CEO
- James G. Conroy
- Employees
- 111,000
Target
- Founded
- 1902
- Headquarters
- Minneapolis, Minnesota
- Current CEO
- Michael Fiddelke
- Employees
- 415,000
Founders
Ross Stores
Morris Ross
Morris Ross opened the original Ross department store in San Bruno, California, in 1950. He ran the single store for several years before selling it in 1958.
Bill Isackson
Bill Isackson bought the Ross store from Morris Ross in 1958 and grew it into a small chain of six Bay Area junior department stores. That six-store chain is what an investor group bought in 1982 and converted to the off-price format.
Stuart Moldaw
Stuart Moldaw was a Bay Area retail entrepreneur and venture investor who led the 1982 purchase of the six-store Ross chain with Don Rowlett and other investors.
Don Rowlett
Don Rowlett was the retail operator in the 1982 investor group that bought the Ross chain.
Target
George Dayton
George Draper Dayton became a partner in Goodfellow's Dry Goods Company, one of the largest department stores in Minneapolis, in 1902, and became sole owner and president within a year, renaming it the Dayton Dry Goods Company.
CEOs and their tenures
Ross Stores
- Michael Balmuth1996–2014
Vice Chairman and Chief Executive Officer
Ross sales grew from under $2 billion to more than $10 billion during his term. Barbara Rentler succeeded him in June 2014.
Source - Barbara Rentler2014–2025
Former Chief Executive Officer
Sales grew from about $11 billion when she took over to $21.1 billion in fiscal 2024, her final full year as CEO.
Source - James G. Conroy2025–present
Chief Executive Officer
Under Conroy, comparable store sales rose 17% in Q1 and 10% in Q2 of fiscal 2026, driven mainly by traffic.
Source
Target
- Robert J. Ulrich1994–2008
Chairman and CEO
Under Ulrich Target grew into the second-largest US discount retailer, built its design-partnership model with designers such as Michael Graves, and added the Super Target format. He retired as chief executive in 2008 and was succeeded by Gregg Steinhafel.
Source - Gregg Steinhafel2008–2014
Chairman, President and CEO
Steinhafel resigned in May 2014 after the data breach and the poor results of Target Canada, which the company closed in 2015 after losses. Brian Cornell succeeded him later in 2014.
Source - Brian Cornell2014–2026
Former Chairman and CEO
Cornell's tenure ended amid a stock and sales slump, with revenue declining for three consecutive fiscal years (from $107.412 billion in FY2023 to $104.780 billion in FY2025) even as the omnichannel infrastructure he built began paying off in the following qua…
Source - Michael Fiddelke2026–present
Chief Executive Officer
Fiddelke inherited a company coming off three straight years of revenue decline. His first two quarters as CEO delivered growth: Q1 FY2026 net sales rose 6.7% and Q2 FY2026 net sales rose 5.3% to $26.5 billion, with comparable traffic up 3.6%.
Source
Timeline: Ross Stores and Target side by side
1902Target
Dayton Company is founded
George Dayton becomes a partner in Goodfellow's Dry Goods Company in Minneapolis in 1902, then sole owner in 1903, renaming it Dayton Dry Goods Company -- the business that eventually becomes Target Corporation.
1950Ross Stores
Original Ross store opens
Morris Ross opened the original Ross department store in the San Francisco Bay Area, creating the name later used by the chain.
1962Target
First Target store opens
The first Target discount store opens in Roseville, Minnesota.
1982Ross Stores
Off-price format begins
Six junior department stores in the San Francisco Bay Area were acquired and converted to the Ross Dress for Less off-price format.
1982Ross Stores
Acquired Six-store Ross department store chain
Ross Stores acquired Six-store Ross department store chain. An investor group including Stuart Moldaw and Don Rowlett bought the six Bay Area Ross stores to convert them to an off-price format.
1985Ross Stores
Ross Stores IPO
Ross Stores went public on Nasdaq under the ticker ROST.
2000Target
Company becomes Target Corporation
Dayton Hudson changes its name to Target Corporation as the discount chain becomes the center of the company.
2004Ross Stores
dd's DISCOUNTS launches
Ross created dd's DISCOUNTS to serve a more moderate-income value customer with deeper discounts.
2013Target
Target Data Breach
Target discloses a data breach affecting more than 40 million customer payment cards during the holiday shopping season, becoming one of the most-cited cybersecurity failures in US retail history.
2014Ross Stores
Barbara Rentler Becomes CEO
Barbara Rentler became chief executive of Ross Stores in June 2014.
2014Target
Dermstore Acquired
Target acquires online beauty retailer Dermstore to expand its e-commerce beauty business; it sells the unit to THG for $350 million in 2021.
2015Target
Target Exits Canada
Target announced in January 2015 that it would close all of its Canadian stores, ending an expansion that began in 2013.
2017Target
Target acquires Shipt and Grand Junction
Target acquires same-day delivery platform Shipt for about $550 million and transportation-technology startup Grand Junction, accelerating omnichannel fulfillment.
2020Target
Stores become fulfillment hubs
Target's store-based fulfillment model becomes central to digital growth during the pandemic period.
2025Ross Stores
James Conroy becomes CEO
James G. Conroy became CEO at the start of fiscal 2025, succeeding Barbara Rentler.
2025Ross Stores
Fiscal 2025 sales reach $22.8B
Ross reported record full-year sales of $22.8 billion for the fiscal year ended January 31, 2026.
2025Target
Michael Fiddelke named next CEO
Target announces that Michael Fiddelke will succeed Brian Cornell as CEO effective February 1, 2026, after 22 years rising through the company including as CFO and COO.
2026Ross Stores
Strong first half of fiscal 2026
First-half sales rose 17% to $12.3 billion with comparable store sales up 13%; Q2 results included about $253 million in IEEPA tariff refunds.
2026Target
FY2025 revenue is reported
Target reports FY2025 revenue of $104.780B and net income of $3.705B, the third consecutive year of revenue decline.
2026Target
Q1 FY2026 sales rebound
Target reports Q1 FY2026 net sales growth of 6.7% and comparable sales growth of 5.6% under new CEO Michael Fiddelke.
2026Target
Q2 FY2026 growth and raised outlook
Target reports Q2 FY2026 net sales of $26.5B (+5.3%), comparable sales growth of 3.8% and raises full-year guidance to about 5% sales growth.
Acquisitions
Questions about Ross Stores vs Target
Who is the CEO of Ross Stores, Inc. and Target Corporation?
Ross Stores, Inc. is led by James G. Conroy and Target Corporation is led by Michael Fiddelke. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Ross Stores, Inc. founded vs Target Corporation?
Target Corporation was founded in 1902 — 80 years before Ross Stores, Inc., which was founded in 1982. Target Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Ross Stores, Inc..
How many employees does Ross Stores, Inc. have compared to Target Corporation?
Ross Stores, Inc. employs approximately 111,000 people, while Target Corporation employs approximately 415,000. Target Corporation has the larger workforce at 415,000 employees, compared to Ross Stores, Inc.'s 111,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Ross Stores, Inc. and Target Corporation headquartered?
Both Ross Stores, Inc. and Target Corporation are headquartered in United States. Their local rules and tax obligations may still differ.
Who founded Ross Stores, Inc. and Target Corporation?
Ross Stores, Inc. was founded by Morris Ross, Bill Isackson, Stuart Moldaw, Don Rowlett. Target Corporation was founded by George Dayton.
Which company has a longer operating history — Ross Stores, Inc. or Target Corporation?
Target Corporation has been operating for approximately 124 years, making it the more established of the two companies. Ross Stores, Inc. has been in operation for around 44 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Ross Stores vs Target overview