Genesco Boosts Share Buyback Program By $50M
Portfolio Pulse from Shivani Kumaresan
Genesco Inc's board of directors has authorized a $50 million increase to its existing $200 million share repurchase program. The company has repurchased 3.9 million shares at a total cost of about $189.5 million since September 2019. GCO shares are up 2.38% at $24.50 premarket.
June 26, 2023 | 1:21 pm
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Genesco's board authorized a $50M increase to its share repurchase program, with shares up 2.38% premarket.
The increase in Genesco's share repurchase program signals the company's confidence in its stock and its commitment to returning value to shareholders. This news is likely to have a positive impact on GCO's stock price in the short term, as evidenced by the 2.38% increase in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100