Skip to main content

Target shares dip upon news of portfolio sale delay

Shares of Target stock dropped nearly 2 percent Wednesday morning after the Minneapolis-based retailer reported that it would temporarily delay its efforts to sell the portfolio containing the balances credit card holders owe the company. The Associated Press reports that the company does not expect to sell the portfolio until later this year or early next.
  • Author:
  • Updated:
    Original:

Shares of Target stock dropped nearly 2 percent Wednesday morning after the Minneapolis-based retailer reported that it would temporarily delay its efforts to sell the portfolio containing the balances credit card holders owe the company. The Associated Press reports that the company does not expect to sell the portfolio until later this year or early next.

Next Up

Screen Shot 2022-04-25 at 11.00.01 AM

Walz wants to use surplus money to send direct payments to Minnesotans

It's a renewed effort from a previous proposal from Walz and Lt. Gov. Peggy Flanagan's supplemental budget in January.

Ron Johnson

Jan. 6 committee says aide for WI senator tried to give fake elector info to Pence

The attempt was discovered through text messages in the ongoing public hearing held by the Jan. 6 select committee.

Stock U of M sign

Minnesota state colleges boosting tuition again by 3.5%

The Minnesota State system's Board of Trustee's approved the increase Wednesday.

covid

Minnesota's COVID-19 update for Friday, June 24

The next daily update will be provided Monday, June 27.

Pro choice rally

Walz, Jensen react to historic Supreme Court reversal of Roe v. Wade

After voting to overturn Roe, conservative Justice Clarence Thomas has hinted contraception and same-sex marriage protections should follow.

16362 County Rd 81, Maple Grove, Minnesota - October 2021 (4)

2-year-old killed in crash on County Road 81 in Maple Grove

The crash occurred Thursday evening on County Road 81.

police tape

BCA issues new details about St. Michael standoff, shooting

New details say a St. Cloud police officer struck the suspect with gunfire.

Screen Shot 2022-06-23 at 2.21.45 PM

92-year-old driver killed in rural Scott County crash

The crash happened around 12:30 p.m. Thursday.

Screen Shot 2022-06-24 at 7.29.06 AM

Big-time rain totals flood Highway 10 in central Minnesota

More rain and storms are expected Friday and Saturday morning.

image

Charges: Driver had just left local bar before deadly Shakopee crash

Witnesses said they were unable to help the 19-year-old Eden Prairie man who died in the crash after becoming trapped.

Chet Holmgren

Thunder selects Chet Holmgren 2nd overall in NBA Draft

The Minneapolis native becomes the highest-drafted Minnesotan in NBA history.

Screen Shot 2022-06-23 at 2.21.45 PM

One airlifted after crash on rural Scott County highway

The State Patrol shut down Highway 282 in both directions Thursday afternoon.

Related

Target agrees to sell consumer credit card portfolio to TD Bank Group

Toronto-based TD Bank Group will acquire Target's consumer credit card portfolio for nearly $6 billion, according to a company news release. The Minneapolis-based retail giant has also entered into a seven-year agreement under which TD Bank will underwrite, fund and own future Target Credit Card and Target Visa receivables in the U.S.

Rep. Paulsen's bill, stock portfolio intersect

Last week's House passage of H.R. 436, the Health Care Cost Reduction Act, was a victory for Rep. Erik Paulsen, its sponsor. The Minnesota Republican's political success may provide a boost to his investment portfolio, as well, the congressional watchdog site Open Secrets reports. The bill, if passed by the Senate and signed into law, would repeal an excise tax on medical devices. That includes devices sold by two companies that Paulsen owns stock in.

Target's October sales trail expectations

Target Corp. says its same-store sales grew 2.4 percent in October, Forbes reports. Analysts were projecting same-store sales growth of 3.3 percent last month. The Minneapolis-based discount giant's total sales climbed 3 percent to $4.98 billion in October.

Target reports strong quarterly sales, weak April sales

Shoppers spent less than Wall Street estimates expected in April. The Minneapolis-based retailer reports a key sales figure rose 1.1 percent last month. Foot, health and beauty continue to be the strongest categories. First-quarter sales were the strongest in more than six years, up 5.3 percent.