Target Authorizes New $5 Billion Share-Buyback Program
September 21 2016 - 9:50AM
Dow Jones News
Target Corp. said Wednesday that its board authorized a $5
billion share repurchase program.
The share repurchases will begin when its current $10 billion
program expires, expected before the end of the year, and should
allow Target to repurchase shares through 2017.
Under its current $10 billion program announced in 2012, the
company has purchased $8.8 billion worth of shares.
Shares rose 1.3% to $69.50 in premarket trading.
The retailer recently said sales at established stores fell for
the first time in more than two years and warned of further
declines, as fewer shoppers visited the company's locations.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
September 21, 2016 09:35 ET (13:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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