Genesco Plans $100M Increase To Repurchase Authorization

Genesco Inc GCO board has authorized a $100 million increase to its existing $100 million share repurchase authorization.
Genesco has $1.0 million remaining under the existing share repurchase program. It has repurchased roughly 1.72 million shares at a total cost of about $99.0 million under the program.
The company intends to implement the new authorization through purchases made from time to time using various methods, including open market purchases, private transactions, block trades.
The company held $282.8 million in cash and equivalents as of October 30, 2021.
Price Action: GCO shares closed lower by 0.43% at $61.86 on Friday.

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