Byline: Kate Fitzgerald
Target Corp. is seeking a buyer for its $6.7 billion credit card receivables portfolio, but it plans to retain operational control of its card program because of its "deep integration" with the company's broader retail operations, the company announced Jan. 13.
Certain shareholders have clamored in recent years for the retailer to sell its credit card portfolio, which has seen mixed results (see story).
Target in 2008 sold a 47% stake in the receivables to JPMorgan Chase & Co. Chase retains an interest in the portfolio's cash flow, but it does not technically own the receivables. Chase declined to comment on how a sale might …
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