Douglas J. Dayton, who served as the first president of Target department stores when his family's retailing company created the chain 61 years ago, has died. He was 88. He died on July 5 at his home in Wayzata, Minnesota, following a long battle with cancer, his wife, Wendy Dayton, said.

Charles Wyly, a co-founder of the Michaels Stores retail chain and major donor to Republican campaigns who was fighting accusations of fraud and insider trading by the U.S. Securities and Exchange Commission, has died following a car accident in western Colorado. He was 77.

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