Zale’s stock repurchase program
by Jo Black
Zale Corporation, a leading specialty retailer of fine jewelry in North America, announced that its Board of Directors has authorized an increase of $50 million in the Company’s stock repurchase program.
The new $50 million authorization brings the total authorized to $350 million for fiscal 2008. The Company, fiscal year-to-date, has repurchased 13.8 million shares, at an average price of $18.06 per share, for an aggregate purchase price of $250 million. This represents a 28% reduction of outstanding shares during fiscal 2008.
With this new increase to the program, the Company has a total remaining authorization of $100 million.
Source : http://www.zalecorp.com/
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