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Zale announces increase of $50 mn in stock repurchase program
02 Jun '08
1 min read
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.
Zale Corporation is a leading specialty retailer of fine jewelry in North America, operating throughout the United States, Canada and Puerto Rico in approximately 2,150 retail locations.
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.
Zale Corporation is a leading specialty retailer of fine jewelry in North America, operating throughout the United States, Canada and Puerto Rico in approximately 2,150 retail locations.
Zale Corporation
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