January 15, 2015 / 5:38 PM / in 4 years

REFILE-Target says exit from Canada will help it resume share buybacks more quickly

(Removes Tokyo dateline)

Jan 15 (Reuters) - Target Corp will be able to repurchase its shares more quickly now that it has made the decision to exit the Canadian market, the U.S. retailer’s chief financial officer, John Mulligan, said on Thursday.

“So while our credit metrics are not yet in a position to allow us to resume share repurchase, this announcement moves our metrics in the right direction and will allow Target to resume share repurchase much more quickly than if we had continued to operate in Canada,” Mulligan said on a conference call. (Reporting by Nathan Layne in New York; Editing by Peter Galloway)

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