A sale of either or both of the chains would not necessarily accelerate expansion of its Target stores, given the company is already on an aggressive expansion track.
Target adds about 8% to 10% in net new square footage per year, and executives don't expect that to change, sale or no sale.
Target executives say the company has the ability to double its number of stores and triple its square footage over the next decade -- about what it has done over the last decade. Target has about 1,250 namesake discount stores, more than double the 550 stores it had in 1993.
Although the discounter may go international in the future, there is ample room for domestic growth before that happens.
Target in March announced a strategic review of Mervyn's, which has 266 junior discount department stores; and Marshall Field's, which has 62 traditional department stores.
Target's executives say the company hopes to have significant news in the next 60 to 90 days on the process.
The company would not name any potential suitors, although Cincinnati-based Federated Department Stores has confirmed its interest in possibly buying Marshall Field's. Other rumored suitors include St. Louis-based May Department Stores, Kohlberg Kravis & Roberts, Kimco Realty Corp. and Apollo Real Estate Advisors.
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