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Target Corporation is an American retailing company that was founded in Minneapolis, Minnesota in 1902 under the name of Dayton Dry Goods Company. In 1962, the first Target store opened in Roseville, Minnesota, and in 2000 the company changed its name from Dayton Hudson to Target. Target is the fifth-largest retailer by sales revenue in the United States, behind Wal-Mart, The Home Depot, Kroger, and Costco. The company is ranked at number 31 on the Fortune 500 as of 2008. Target operates its retailing business exclusively in the United States. It is a rival and competitor of Kmart and Wal-Mart. Target is a component of the Standard and Poor's 500 index. Target Corporation in the United States is not affiliated with Wesfarmers or their Target Australia retail stores.