Genesco Inc. announced that its board of directors has authorized it to repurchase up to $100 million of the company’s common stock.
The company exhausted its previous $100 million authorization from May 2019, pursuant to which the company repurchased roughly 2.5 million shares at a total cost of approximately $100 million.
During the third quarter of fiscal 2020, 0.9 million of those shares were repurchased at a total cost of approximately $31.0 million. Earlier this year, the company exhausted its $125 million repurchase authorization from December 2018, pursuant to which the company repurchased roughly 2.8 million shares at a total cost of approximately $125 million. Between these two authorizations, the company has repurchased 5.3 million shares at a total cost of approximately $225 million.
