ANALYST: CREDIT BUSINESS FOR TARGET GIVING THE RETAILER A BIG BOOST.(Deborah Weinswig, Bear, Stearns and Company Inc.; Target Corp.)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, March, 2002 by Zaczkiewicz, Arthur
NEW YORK-Is Target's credit business a red-hot profit maker?
That's the question posed by Bear Stearns & Co. retail analyst Deborah Weinswig in her recent report: "Giving Credit Where Credit Is Due." Weinswig analyzed Target's credit business and found that it is "an underappreciated jewel" to investors while also providing the retailer with a "unique opportunity" to bolster earnings. Moreover, Weinswig's analysis revealed that the retailer's Visa Smart Card, launched last September, has the potential for substantial earnings growth.
Weinswig said that Target's credit business contributed 14.9 percent to pretax segment operating income in 2000. It added about 18 cents per share to the total earnings per share figure. "Despite these contributions, we...
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