Apparel maker Polo Ralph Lauren Corporation announced that the company's Board of Directors has authorized a $250 million stock repurchase program.
The program permits the company to repurchase $250 million of its shares of Class A Common Stock, subject to market conditions. As part of a previously authorized stock repurchase program, the company is also currently permitted to purchase approximately an additional $32 million of its shares of Class A Common Stock, subject to market conditions.
Shares acquired under the repurchase program will be held in treasury for future use. Polo will finance the share repurchases using its cash and bank credit facilities.
Polo Ralph Lauren Corporation is a leader in the design, marketing and distribution of premium lifestyle products in four categories: apparel, home, accessories and fragrances.
Polo Ralph Lauren Corporation
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