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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT: JULY 10, 1998

DAYTON HUDSON RECEIVABLES CORPORATION
(Exact name of registrant as specified in its charter)

Minnesota
(State or other jurisdiction of incorporation)

        0-26930                                      41-1812153
        -------                                      ----------
(Commission File Number)               (I.R.S. Employer Identification Number)

Dayton Hudson Receivables Corporation
80 South Eighth Street
14th Floor, Suite 1401
Minneapolis, Minnesota 55402
(612)370-6530
(Address, including Zip Code, and Telephone Number,
Including Area Code, of Registrant's Principal Executive Office)

Page 1 of 19 Pages
The Exhibit Index Appears on Page 3

ITEM 5: OTHER EVENTS

The Monthly Servicer's Certificates for the Monthly Period ended May 30, 1998 and the Monthly Certificateholders' Statements for the Monthly Period ended May 30, 1998, with respect to the Class A Asset Backed Certificates, 6.10% Series 1995-1, the Class B Asset Backed Certificates, Series 1995-1, the Class A Asset Backed Certificates, 6.25% Series 1997-1 and the Class B Asset Backed Certificates, Series 1997-1, issued by the Dayton Hudson Credit Card Master Trust, were delivered to the Trustee on June 22, 1998, and the Monthly Certificateholders' Statements were then distributed to Certificateholders on June 25, 1998.

The above described Monthly Servicer's Certificates are filed as Exhibits 20.1 and 20.3 to this Report. The above described Monthly Certificateholders' Statements are filed as Exhibits 20.2 and 20.4 to this Report.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: July 10, 1998

DAYTON HUDSON RECEIVABLES CORPORATION

By:       /s/ Stephen C. Kowalke
          ----------------------------
Name:     Stephen C. Kowalke
Title:    Vice President and Treasurer

EXHIBIT INDEX

                                                            SEQUENTIALLY
EXHIBIT NUMBER                DESCRIPTION                   NUMBERED PAGE
--------------                -----------                   -------------

         20.1          Series 1995-1 Monthly                      4
                       Servicer's Certificate for the
                       Monthly Period ended
                       May 30, 1998.

         20.2          Series 1995-1 Monthly                      6
                       Certificateholders'
                       Statement for the Monthly
                       Period ended May 30, 1998.

         20.3          Series 1997-1 Monthly                      12
                       Servicer's Certificate for the
                       Monthly Period ended
                       May 30, 1998.

         20.4          Series 1997-1 Monthly                      14
                       Certificateholders'
                       Statement for the Monthly
                       Period ended May 30, 1998.

MONTHLY SERVICER'S CERTIFICATE

RETAILERS NATIONAL BANK

DAYTON HUDSON CREDIT CARD MASTER TRUST
SERIES 1995-1

The undersigned, a duly authorized representative of Retailers National Bank, as Servicer ("RNB") pursuant to the Pooling and Servicing Agreement dated as of September 13, 1995 (as may be amended, from time to time, the "Agreement") as supplemented by the Series 1995-1 Supplement (as amended and supplemented, the "Series Supplement"), among RNB, Dayton Hudson Receivables Corporation and Norwest Bank Minnesota, National Association, does hereby certify as follows:

1. Capitalized terms used in this Certificate have their respective meanings as set forth in the Agreement or the Series Supplement, as applicable.

2. RNB is, as of the date hereof, the Servicer under the Agreement.

3. The undersigned is a Servicing Officer.

4. This certificate relates to the Distribution Date occuring on June 25, 1998.

5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Monthly Period preceding such Distribution Date.

6. As of the date hereof, to the best knowledge of the undersigned, no Early Amortization Event occurred on or prior to such Distribution Date.

7. The aggregate amount of Collections processed for the preceding Monthly Period was equal to $394,402,891.59.

8. The aggregate amount of Collections of Finance Charge Receivables (including Discounted Receivables) for the preceding Monthly Period was equal to $47,905,376.43.

9. The aggregate amount of Collections of Principal Receivables for the preceding Monthly Period was equal to $346,497,515.16.

10. The aggregate amount of the Defaulted Amount for the preceding Monthly Period was equal to $13,668,827.93.

11. The aggregate amount of Recoveries for the preceding Monthly Period was equal to $2,773,476.28.

12. The Portfolio Yield for the preceding Monthly Period was equal to 20.94%.

13. The Base Rate for the preceding Monthly Period was equal to 6.67%.

14. The aggregate amount of Receivables as of the end of the last day of the preceding Monthly Period was equal to $2,168,857,234.77.

15. The balance on deposit in the Collection Account with respect to Collections processed as of the end of the last day of the preceding Monthly Period was equal to $2,033,333.34.

16. The aggregate amount of Adjustments for the preceding Monthly Period was equal to $43,659,801.54.

17. The aggregate amount of withdrawals, drawings or payments under any Enhancement to be made with respect to the preceding Monthly Period is equal to $0.00.

18. The total amount to be distributed to Investor Certificateholders on the Distribution Date is equal to $2,033,333.34.

19. The amount to be distributed to Investor Certificateholders on the Distribution Date per $1,000 original principal amount is equal to:

Class A 5.083

20. The amount of such distribution allocable to principal is equal to $0.00.

21. The amount of such distribution allocable to principal per $1,000 original principal amount is equal to:

Class A 0.000

22. The amount of such distribution allocable to interest is equal to $2,033,333.34.

23. The amount of such distribution allocable to interest per $1,000 original principal amount is equal to:

Class A 5.083

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Servicer's Certificate this 22nd day of June, 1998.

RETAILERS NATIONAL BANK,
AS SERVICER

BY: /s/ Thomas A. Swanson
----------------------------------
NAME:  THOMAS  A. SWANSON
TITLE:  VICE PRESIDENT & CASHIER