Target Corporation (NYSE:TGT) finally finds a buyer

Target Corporation(NYSE:TGT) has finally managed to find a buyer in the form of TD Bank Group to sell its credit card business to. The company had been looking for a buyer for quite a while, and after negotiations, and deliberations, the company finally managed to get a buyer. Target Corp. announced the good news on Tuesday, after two years of looking around to sell the credit card business to. The discounter is based in Minneapolis, and according to the rules penned down for this exchange, the price of the sale of the business has to be equivalent to the gross value of the receivables which are outstanding during the time of closing. According to this stipulation, the credit card business will be selling for about $5.6 billion.

The relationship between Target and TD Banks will not end with the sale, however. There is also a seven year contract which both the companies have entered into. According to this contract, TD Banks will take responsibility for the future of the company. What this means is, the responsibility of funding, of underwriting and of owning future credit cards and visa cards from the Target credit card business, will go to TD Banks, completely. According to this deal, the company will also have to look into the policies dealing with risk management as well as regulatory compliance. Target will play an active part too, through this deal. The company will be in charge of taking care of the accounting. The responsibility of the acceptance of applications and the parameters to do so will go to TD Banks, as will, the decisions regarding the interest rate to be charged. The responsibility of the processing of bills, along with issues of customer care and service will be handled by Target.

The Red Credit Card holders will not find any inconvenience due to this deal, said Target. These cared holders get 5 percent discounts on their transactions when buying products. TD Bank and Target will close the deal by early 2013. Target will be using the sale money and the returns from the third quarter to pay off the debts incurred by the company, after which, it will start buying stocks of the company.

Shares of TGT rose less than 1% in Tuesday’s session.

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Barnes & Noble, Inc. (NYSE:BKS)’s Nook receives record pre-orders - WMT, AMZN, TGT

Bookstore chain, Barnes & Noble, Inc.(NYSE:BKS) on Monday said that it had received record pre-orders for its Nook tablets.

Chief Executive William Lynch told CNBC in an interview that data showed that though the company had lost some share in the tablet segment, recent figures for its devices showed that the company had the ability to grow in a highly competitive market.

He said preorders for the Nook HD and HD+, which are expected to begin shipping in late October, are at "the highest levels we've ever seen for the Nook."

Barnes & Nobles is seen as a brick and mortar company with its chain of bookstores still being the bread and butter for the company. It is perceived as being less agile compared to rivals such as Amazon.com, Inc.(NASDAQ:AMZN), which has been quicker off the mark in terms of adapting its business to an increasingly mobile environment.

Lynch however maintained his view that the market is large enough for more than one player and said his company was specifically targeting readers and families.

The company has expanded distribution for Nook's products at Wal-Mart Stores, Inc.(NYSE:WMT) and Target Corporation(NYSE:TGT). Wal-Mart and Target earlier this year decided to stop selling Amazon's Kindle in their stores.

Barnes & Noble earlier this month received an investment of $300 million from Microsoft Corp.'s newly created subsidiary called Nook Media LLC.

That investment gave Barnes & Noble's shares a jolt when the deal was first announced in April, but the stock has since faltered as high investment costs in the Nook and concerns about the health of the physical book market in an increasingly digital world has vexed investors.

Shares of BKS soared 6% to $14.13 in Monday’s session.

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Retailers Show Solid Sales Ahead of holiday rush – COST, GPS, Macy’s, TGT, KSS, WMT

Sale for the month of September at U.S Retailers came in solid, but not a preeminent performer as shoppers finished up their back-to-school buying and put the brakes on more big spending before the holiday season. Moreover, Sales hit a four month high in September.

Matching analyst expectation sales at stores rose 3.6 percent, which open at least a year at 17 chains as tracked by Thomson Reuters I/B/E/S. Comparatively, a 6.4 percent rise of sales was seen last year in September 2011.

 Departmental store category results were not up to expectation, while sales at same store at apparel chains were stronger and more than analyst expectation.

"I think September overall is going to be OK; I don't think it's going to be great," said John Rooney, national retail & distribution sector lead for Deloitte Consulting. 

While there was bigger than expected gains for certain companies, there were companies facing a fall in expectations.

Stage Stores Inc, Costco Wholesale Corporation(NASDAQ:COST ) and The Gap Inc.(NYSE:GPS) posted bigger-than-expected gains in September, however Target Corporation(NYSE:TGT ) and Macy's, Inc.(NYSE:M)’s posted same-store sales increases which missed analysts' expectations, whereas at Kohl's Corporation(NYSE:KSS)  decline was steeper than anticipated.

 An opposite posting was done by Buckle Inc rather than that expected by Wall Street. The Wall Street expected a small rise but Buckle Inc posted a decline.

A drop of 11.1 percent in same-store sales at Walgreen Company (NYSE:WAG) is excluded from the 3.6 percent rise of sales at stores.

A partial view of consumer spending is seen from the monthly sales report as Wal-Mart Stores, Inc.(NYSE:WMT) and many other large retailers do not release monthly data. The monthly sales report accounts for only 70 percent of the U.S. economy.

As per expert notion buyers at present can buy what they want immediately holding off on large purchases before holiday.

Careful control over inventories by the chains may not lead to clearance sales before holiday season but there are discounts which counts a lot.

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