Target Card Business In Play

Target (TGT Quote) may be working out ways to monetize its credit card business, according to sources following the retailer.

Last week, finance chief Doug Scovanner told investors at a Goldman Sachs retail conference that Target would consider exploring strategic alternatives for its real estate and credit portfolio, as long as any possible deals don't disrupt its relationship with customers.

Target's shift comes less than two months after William Ackman's Pershing Square Capital revealed a 9.6% stake in the nation's second-largest discount retailer. Pershing's nearly $2 billion stock purchase kindled speculation that the firm would look to pressure Minneapolis-based Target to shed its credit card operations and real estate portfolio to focus on retailing. ...