IN BRIEF: FEDERATED TO SELL CARD PORTFOLIOS...LINENS, DECORATOR TEAM UP FOR LINE...DELGATTI BACK AT BROYHILL IN VP POST...
HFN: The Weekly Newspaper for the Home Furnishing Network, June, 2005
FEDERATED TO SELL CARD PORTFOLIOS
Federated Department Stores will outsource its and May Department Stores Co.'s private-label credit card portfolios to Citigroup.
Citigroup will initially acquire Federated's roughly $4.4. billion credit card receivables portfolio. The firm will acquire May's $2.2 billion credit card receivables portfolio within one year following the successful completion of the Federated/May merger, expected in the third quarter of this year.
Citigroup will pay an 11.5 percent premium for each of the portfolios.
LINENS, DECORATOR TEAM UP FOR LINE
Linens 'n Things has formed a partnership with decorator Nate Berkus, featured design expert for "The Oprah Winfrey Show" and regular contributor to O at...
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