Target considers selling Marshall Field's, Mervyn's
By Furniture Today Staff -- Furniture Today, March 14, 2004
Minneapolis — Minneapolis— Target Corp. is considering selling its Marshall Field's unit, the sixth-largest furniture and bedding merchant among U.S. department stores, as well as its Mervyn's division.
Target said last week it had retained Goldman Sachs to evaluate alternatives for the divisions, including a possible sale of one or both.
Marshall Field's, based in Minneapolis, has 62 stores in eight states in the upper Midwest and did $2.6 billion in business last year. Furniture/Today ranked the company sixth last year based on 2002 furniture and bedding sales of $145 million.
Mervyn's, based in the San Francisco area, operates 266 stores and had 2003 sales of $3.6 billion but is not a significant player in furniture and bedding.
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