-
Target puts temporary stop on efforts to sell credit-card receivables
Minneapolis -- Target Corp. on Wednesday announced it is temporarily suspending its efforts to sell its credit-card-receivables portfolio until later this year or early 2013. The company also outlined plans to pay J.P. Morgan Chase & Co. about $2.8 billion, along with a make-whole premium, to retire financing from 2008. The payment, along with a premium, is expected to reduce its fourth-quarter earnings by about 8 cents per share.
-
Saks appoints Jack Stahl to board
New York City -- Saks Inc. announced that Jack L. Stahl, 58, was appointed to the company’s board of directors effective Jan. 16. He also will serve on the audit committee of the board.
From 2002 through 2006, Stahl served as president and CEO of Revlon. Prior to joining Revlon, he spent over 20 years with The Coca-Cola Co.