Dive Brief:

• Target confirmed Wednesday that it will double its share buyback program to $10 billion, after creating confusion around a similar announcement Tuesday. 
• The retailer accidentally published a statement on its website detailing a $5 billion buyback and dividend plans on Tuesday. 
• Target promptly deleted the post, and denied that any information had been formally released after it was reported by news media. 

Dive Insight:

While this whole scenario seems to be just a public embarrassment for Target, it isn't the first time that a retailer has accidentally released sensitive information before a planned announcement in recent months. In April, a senior executive at J.C. Penney inadvertently revealed Q1 same-store sales at the retailer to an analyst, prompting it to release the number to the public ahead of schedule. 

"Given our outlook for capital expenditures and the strong cash generation of our core business, we expect to have the capacity to increase our annual dividend and repurchase billions of dollars of Target shares annually while maintaining our current credit ratings," said Target Chief Financial Officer John Mulligan in a statement.