Meanwhile, Target says it completed the sale of Mervyn's $475-million credit card receivables to GE Consumer Finance, a unit of General Electric Co. Mervyn's, a Hayward, CA-based promotional, middle-market department store with stores mostly in the west and south, generated $3.6 billion in revenue and $160 million in pretax segment profit last year.
Earlier this year, Target sold its Marshall Field's department store unit to May Department Stores Co. for $3.2 billion. Following the sales, Target Corp. will continue to operate Target Stores, a large-store, general-merchandise, discounter consisting of 1,272 stores in 47 states.
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