Nordstrom seeks buyer for store-branded credit card

Nordstrom is said to be soliciting buyers for its store-branded credit card, a portfolio that has an estimated value of $2 billion.

Potential partners include Capital One, Toronto-Dominion Bank, CitiGroup and JPMorgan Chase & Co, note sources close to the matter who spoke with Bloomberg.

Earlier this month, Nordstrom said it was working with Goldman Sachs and Guggenheim Partners to find a "financial partner" for its credit cards by the end of 2015.

Nordstrom follows Macy's (NYSE: M) and Target (NYSE:TGT) in selling store-branded card portfolios. Citigroup purchased the $6.6 billion credit card portfolios of Macy's, while Toronto-Dominion last year bought Target's $5.9 billion credit card portfolio.

For more:
-See this Bloomberg article

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