G-III Apparel Group Ltd. on Thursday announced that the company has repurchased approximately 723,000 shares at an average price of $28.09 per share under its existing authorized share repurchase program.
The shares were repurchased between December 14, 2018, and December 27, 2018. The company currently has approximately 4.28 million shares remaining under its authorized share repurchase program.
Morris Goldfarb, G-III’s chairman and CEO, said, “We are pleased to announce that we purchased shares at what we believe to be opportunistic prices. Our board of directors view the authorized share repurchase program as an effective means to enhance shareholder value.”
Share repurchases may be commenced, suspended, or discontinued without prior notice. The timing and actual number of any shares repurchased depends on a variety of factors, including market conditions, and the company assumes no obligation to publicly disclose future repurchases, except as required by applicable law.