Meanwhile, Target says it completed the sale of Mervyn's $475-million credit card receivables to GE Consumer Finance, a unit of General Electric Co. Mervyn's, a Hayward, CA-based promotional, middle-market department store with stores mostly in the west and south, generated $3.6 billion in revenue and $160 million in pretax segment profit last year.
Earlier this year, Target sold its Marshall Field's department store unit to May Department Stores Co. for $3.2 billion. Following the sales, Target Corp. will continue to operate Target Stores, a large-store, general-merchandise, discounter consisting of 1,272 stores in 47 states.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
