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Target delays plan for credit-card business


MINNEAPOLIS Target today reported that it needs more time to review alternative ownership structures for all or part of the portfolio of credit card receivables associated with its Target Credit Card and Target Visa Card products.

According to the company, the review, which was announced on September 12, is taking longer than expected, in part as a result of current market conditions. The company now plans to announce a decision in the first calendar quarter of 2008.

Excluding transaction-related effects, if any, Target said it continues to expect increased earnings before taxes (EBT) from the credit card portfolio in the fourth quarter of 2007 and throughout 2008.

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