Shoe Carnival, Inc. announced its board of directors extended the expiration date of its existing $25.0 million share repurchase program to Dec. 31, 2013. The repurchase program was originally approved by on Aug. 23, 2010.
The company has funded, and will continue to fund, the share repurchase program from cash on hand. Share repurchases may be made in the open market or through privately negotiated transactions from time-to-time and in accordance with applicable laws, rules and regulations. The total number and value of the shares to be purchased will depend on the performance of the Companys share price and other market conditions. As of January 2, 2013, $20.3 million of the authorization was available for future repurchases.