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Target OKs $5 billion share repurchase authorization
MINNEAPOLIS — Target's board of directors has approved a new $5 billion share repurchase program, which will be implemented upon the completion of the company's current $10 billion program.
Target said while it expects to complete its current program early this year, it expects to complete the new $5 billion authorization in the next two to three years, saying the program "represents an opportunity to apply excess cash flow to what [the company believes] will be an attractive long-term investment."
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Williams-Sonoma cuts Q4 outlook
San Francisco -- Williams-Sonoma Inc. said Thursday it has cut its fiscal Q4 earnings outlook below Wall Street expectations due to heavy holiday promotions levels.
The company said it had to offer discounts to entice shoppers this holiday season. Although earnings guidance has been reduced to below expectations, Williams-Sonoma’s revenue outlook remains in line with Wall Street, trimmed to a range of $1.24 billion to $1.26 billion. The company had previously expected revenue as high as $1.27 billion.