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The company is one of the largest American-owned private employers in the United States. The corporation was founded in Minneapolis by businessman George Dayton in 1902, and developed through the years via expansion and acquisitions. Target, the company's first discount store and eventual namesake, was opened in 1962.
During the 1990s, in-store sales at Victoria's Secret increased by 30% after the company tracked and applied data analysis of where specific styles, sizes, and colors were selling. The decade also brought an expansion of store size to triple from 1,400 square feet (130 m 2 ) to an average 4,500 square feet (420 m 2 ). [99]
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In January 2012, the company's chief operating officer at the time, Michael Kramer, revealed to The Wall Street Journal that more than 30 percent of the bandwidth of J. C. Penney's headquarters was used for the viewing of YouTube videos during that month alone. Kramer consequently laid off 1,600 employees to change the company's workplace culture.
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