Retail

MINNEAPOLIS — Target has completed its $10 billion share repurchase program.

The program, which was authorized by the retailer's board of directors in November 2007, represents the repurchase of 193.5 million shares, or nearly 23% of its outstanding shares from that time period, at an average price of $51.68 per share.

Target will continue to repurchase shares under the $5 billion program approved by its board of directors in January, which it expects to complete in the next two to three years.

LONDON — Walmart's U.K. subsidiary Asda is making it easier for brides to feel special on their wedding day by launching a new bridal lingerie line at its George stores. 

The retailer has a launched a four-piece "bridal inspired" collection that ranges from 11.50 to 16 GPB. According to Asda this is 1,639% cheaper than the most expensive alternative. 

DALLAS — Alliance Data Systems Corp. announced that its Canadian coalition loyalty business has signed a new multi-year agreement with Toys“R”Us, Canada to issue air miles reward miles in its 73 stores across Canada effective March 23.

The Air Miles Reward Program is Canada’s premier coalition loyalty program, with approximately two-thirds of Canadian households actively collecting reward miles.

NORTHFIELD, Ill. — Kraft Foods has nominated two candidates to serve on the company's board of directors.

NAPERVILLE, Ill. — OfficeMax has named a new executive to lead its merchandising initiatives including category management, strategic product planning, global sourcing, private label expansion and cost of goods sold. The company anounced that  Ronald Lalla has been named EVP, chief merchandising officer, effective Monday, March 19. He will report to Michael Lewis, EVP, president retail.

CHICAGO — While consumers will continue to define value based on price, other key trends, including new product development, technology, store layouts and shopping patterns will drive the market in 2012, according to SymphonyIRI research.

In its latest Times & Trends report, "CPG 2011 Year in Review: The Search for Footing in an Evolving Marketplace," SymphonyIRI said that in order to effectively compete in the market, consumer packaged goods manufacturers and retailers should take note of the following predictions:

HOFFMAN ESTATES, Ill. — Select Sears hometown dealer stores and Sears Hardware stores were the latest to hit the chopping block at Sears Holdings, as the company continues to implement plans to reduce expenses. The company revealed in a Wednesday document that it will close 43 Sears hometown dealer stores and 10 Sears Hardware stores over the first half of 2012.

MENOMONEE FALLS, Wis. — Kohl’s Department Stores was honored with the Environmental Protection Agency’s 2012 Energy Star Award for Sustained Excellence at a ceremony in Washington, D.C. The award recognizes Kohl’s long-term commitment to protecting the environment through energy efficiency initiatives. Kohl’s was recognized by EPA in 2010 and 2011 as an Energy Star Partner of the Year, and in 2011 also became the first retailer to be named an EPA Green Power Partner of the Year for three consecutive years.