Review of Financial Statements Paper

Essay by kelkinseyUniversity, Bachelor'sA+, August 2008

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The annual reports of Wal-Mart and Target are provided free of charge via and Upon inspection, the Wal-Mart and Target reports include meaningful financial statements included in their annual reports.

Product or ServicesBoth Target and Wal-Mart sell roughly the same types of products and services. Wal-Mart has a few extra services or products that Target may not have but they are pretty much equals in their industries. They both focus on the sales of home care items, health care items, toys, clothing, groceries, appliances and electronics. Wal-Mart on the other hand also has an automotive department that will take care of maintenance and up keep of a customer's vehicle. Wal-Mart also has a contract with McDonald's whereas Target has a contract with Starbucks. Also, when a customer goes to Wal-Mart they can make a whole day out of it because not only is there a McDonald's but they also have hair salons, nail salons, arcades for the kids, and portrait studios.

Target does have a portrait studio as well but they do not have all the other amenities that Wal-Mart has.

EstablishedWal-Mart and Target were both established in 1962. However; there were different paths taken with each company to establish each company. According to "in 1881 Marshall Field & Company was founded. Then in 1902 George D. Dayton opened Goodfellows in downtown Minneapolis, MN, in 1903 Dayton Dry Goods Store was then founded. In 1911, it became The Dayton Company. So in 1918 The Dayton Foundation was created with an endowment of $1 million. Then in 1946 The Dayton Company's bylaws established the practice of giving 5% of pretax profits back to the community. Finally in 1962, The Dayton Company enters discount merchandising with the opening of its first Target Store" (, 2007). However, according to