Caleres Board of Directors Authorizes Stock Repurchase Program
06 September 2019 - 12:33AM
Business Wire
The Caleres (NYSE: CAL) (caleres.com) Board of Directors has
authorized a stock repurchase program of up to 5.0 million shares.
This program is in addition to the existing stock repurchase
program, which was approved on December 14, 2018. There are
approximately 5.7 million shares available for repurchase,
including those remaining under the existing authorization.
A portion of the shares from the new repurchase program may be
used for the company’s employee benefits plans, while the balance
will be available for other general corporate purposes. The stock
repurchase authorization does not have an expiration date, and the
pace of the repurchase activity will depend on factors such as
levels of cash generation from operations, cash requirements for
investments, repayment of debt, current stock price, and other
factors.
The company may repurchase shares from time to time on the open
market or in private transactions, including structured
transactions. The stock repurchase program may be modified or
discontinued at any time.
About Caleres
Caleres is the home of today’s most coveted footwear brands and
represents a diverse portfolio spanning all of life’s styles and
experiences. Every shoe tells a story and Caleres has the perfect
fit for every one of them. Our collections have been developed and
acquired to meet the evolving needs of today’s assorted and growing
global audiences, with consumer insights driving every aspect of
the innovation, design, and craft that go into our distinctly
positioned brands, including Famous Footwear, Sam Edelman,
Naturalizer, Allen Edmonds, Vionic, Dr. Scholl’s Shoes, Franco
Sarto, Veronica Beard, and more. The Caleres story is most simply
defined by the company’s mission: Inspire people to feel great…feet
first.
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version on businesswire.com: https://www.businesswire.com/news/home/20190905006038/en/
Ken Hannah khannah@caleres.com Jo Ann Stoda
jstoda@caleres.com
Caleres (NYSE:CAL)
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