Top Retailers

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.

WHAT IT MEANS AND WHY IT'S IMPORTANT — A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site.

(THE NEWS: Reports: WAG-RAD merger speculation drives RAD stock to four-year high. For the full story, click here)

NEW YORK — The Ethisphere Institute's sixth annual selection of the "World's Most Ethical Companies" included several of the nation's top retailers.

Among this year's list of 145 organizations, Ethisphere — which describes itself as a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability — included Costco, Safeway, Target, Wegmans and Whole Foods.

NEW YORK — During the 2011 holiday season, the top retail applications and websites combined — including Amazon, Best Buy, eBay, Target and Walmart — reached nearly 60% of smartphone owners, according to Nielsen.

“The majority of smartphone owners used their devices for shopping this past holiday season,” said John Burbank, president of strategic initiatives at Nielsen. “Mobile shopping has reached scale and is only going to grow as smartphone penetration continues to rise.”

WASHINGTON — Many Walgreens customers are "flocking" to independent pharmacies amid the dispute between the retail pharmacy chain and pharmacy benefit manager Express Scripts, a trade group representing the PBM industry said.

The Pharmaceutical Care Management Association announced results of a survey conducted by North Star Opinion Research, touting the results as evidence of preferred pharmacy networks' benefits to independent retail pharmacies and customers.

NEW YORK — A takeover by Walgreens is "highly unlikely," but Rite Aid shares could stay past the $2 mark due to the company's fundamentals, an analyst said Thursday.

ALEXANDRIA, Va. — Mom Made Foods, a maker of frozen prepared meals, snacks and meal starters for kids, is extending its reach to the Big Apple.

The company, a U.S. Department of Agriculture-organic certified producer of frozen foods for children, announced that its three product lines — Mom Made Meals, Mom Made Munchies and Mom Made Bites — will make their way to Duane Reade. The products currently are available at a variety of grocery retailers, including A&P, Hannaford, Shaw's and Waldbaums.

GOODLETTSVILLE, Tenn. — A former Safeway executive has joined Dollar General as its EVP store operations.

Effective March 19, Greg Sparks will assume all responsibilities for the operations of more than 9,900 retail stores in 38 states and serve on Dollar General's real estate and store development committee, the company said. Sparks will report to chairman and CEO Rick Dreiling.

Sparks most recently served as president of Safeway's Seattle division. His departure from the supermarket retailer was announced earlier this week.