Zumiez Plans Repurchase Of Up To An Aggregate Of $25M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Zumiez has announced a plan to repurchase up to $25 million of its common stock. The repurchase program is expected to continue through June 30, 2025, unless the Board of Directors decides to extend or shorten the time period.
June 06, 2024 | 8:12 pm
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Zumiez has announced a $25 million stock repurchase program, which is expected to continue through June 30, 2025. This move is likely to positively impact the stock price in the short term as it signals confidence from the management and reduces the number of shares outstanding.
Stock repurchase programs generally indicate that the company believes its stock is undervalued and is a good investment. This can lead to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share (EPS).
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