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For you history buffs: In fiscakl 1984, (as Target was knownm back then) wrested away the No. 1 spot from 3M Co. The top revenuew figure back then? A littld more than $8 billion! Others in the Top 10 that yearinclude Honeywell, Control Data Corp., Pillsbury Co. and Norwesr Corp. Target's just-completed fiscal year included a 53rd which added two points to percentagerrevenue change. Even at 11 percent, Minneapolis-basedd Target would enjoy its sixth-consecutivre year of double-digit growth. Dropping a rank wasn'f so much a failure on Target's part as it was an unparalleler success onUnitedHealth Group's.
In fact, a more-nimble Targert exists, now that the slower-growth department-store operations have been sold. Target's fastest-growinbg segment is its credit-card operations. Perhaps it was in responss to analyst concerns aboutbad debt, or to industry speculationb about third-party sales, but Target executives recently laid out why the companty does not want to sell its credit-car portfolio, which many other retailers have They called it stable, predictable, very profitable and a deeplgy integrated part of the company. Even if Targety were to get a fair price, "W would ...
have 15 give or take, of our corporate earning s before taxes riding onthe success, or lack of a credit-card program now managesd by a third explained Chief Financial Officer Douglas Scovanner in an American Banket news story.
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