Home / Knowledge / News / Apparel/Garments / TJX BoD approves a new stock repurchase program
TJX BoD approves a new stock repurchase program
05
Feb '08
The TJX Companies Inc, the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced that its Board of Directors has approved a new stock repurchase program that authorizes the repurchase of up to $1 billion of TJX common stock from time to time. At current prices, this would represent approximately 7.5% of the Company's outstanding common shares.

This new authorization is in addition to the $486 million remaining under the Company's existing $1 billion authorization, originally authorized in February 2007, which the Company expects to complete during the current fiscal year.

The new authorization marks the ninth program approved by the Board since 1997. Over this period, the Company has spent $5.8 billion on the repurchase of TJX stock, buying back 342 million shares.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies Inc, commented, “This new authorization reflects our continued confidence in the strength of our business. Our strong operations continue to achieve solid returns on investment, which allows us to reinvest in the Company's growth while simultaneously pursuing our buyback program.

The share repurchase program has generated substantial returns on the capital we have invested in it and we continue to view it as an excellent method to return significant value to our shareholders.”

Repurchases may be made from time to time on the open market or in negotiatedtransactions, pursuant to 10b5-1 plans or otherwise. The repurchase program announced today has no time limit.

The TJX Companies Inc


Must ReadView All

Apparel/Garments | On 27th Jun 2017

Vietnam to build fashion, textile, trading centres

Vietnam's Ho Chi Minh City will build large centres for designing...

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search