Same story, different month

Delinquency trends within Target’s portfolio of credit card receivables continued to show improvement in June. The percentage of accounts 60 days past due sank to 4.9% in June, the lowest level so far this year and a sharp improvement from the 5.2% seen in May. The percentage of accounts 60 days past due is approaching levels not seen since the summer of 2008. Also showing improvement are the number of accounts 90 days past due. Roughly 3.6% of accounts are 90 days past, down from 3.7% in May and 4.5% at the beginning of the fiscal year.