Target Corporation (NYSE: TGT) shares were
up a modest 0.6 percent in early Wednesday trading after the company’s board approved a massive new $5 billion buyback plan. The
new plan will begin upon completion of the current $10 billion buyback plan by the end of fiscal 2016.
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Target certainly seems to be taking an aggressive approach to buying back shares, but how does its buyback strategy compare to
other major retailers? Here’s a look.
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Wal-Mart Stores, Inc. (NYSE: WMT): Last
year, Walmart announced a plan to buy back $20 billion of its own shares over a two-year stretch.
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Kohl’s Corporation (NYSE: KSS): In
February, Kohl's announced a new plan to buy back $600 million of its own stock this year.
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J C Penney Company Inc (NYSE: JCP): The
struggling retailer is focusing its efforts elsewhere for the time being. “We need to get at least below a three-times-leverage
before we consider doing any type of buyback,” Chief Executive Officer Ed Record said back in February.
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Big Lots, Inc. (NYSE: BIG): Back in March,
Big Lots announced a new $250 million 2016 buyback program.
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Macy’s Inc (NYSE: M): In February, Macy’s
announced it would be tacking on $1.5 billion to its current buyback program. As of the end of Q4 2015, the company had about
$500 million remaining on its previous program.
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Dillard’s, Inc. (NYSE: DDS): In February,
Dillard’s announced a new open-ended $500 million share repurchase program.
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Sears Holdings Corp (NASDAQ: SHLD):
After buying back $5.8 billion in shares at prices as high as $170 between 2005 and 2010, Sears has now shut down its buyback
program with its shares trading at around $11.50.
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