Eric Wieffering and Melissa Levy report on Target’s credit card operations.
“The sole reason we’re in the credit-card business is to give our guests a reason to visit the store more often and spend more on each visit,” Douglas Scovanner, Target’s executive vice president and chief financial officer, said in a recent interview.
But the growth in Target’s $6 billion credit portfolio, and the Minneapolis-based company’s ability to manage risk at a time of rising joblessness and personal bankruptcies has given some analysts pause.