The Board of Directors at Shoe Carnival, a retailer of value-priced footwear and accessories, extended the expiration date of the company’s existing $25 million share repurchase program to December 31, 2014. The Board initially approved the repurchase program on August 23, 2010.
The retailer has previously funded, and will continue to fund, the share repurchase program from cash on hand. Share repurchases can be made in either the open market or through privately negotiated transactions, as long as they are in accordance with all appropriate laws, rules and regulations. Shoe Carnival’s share price, along with other market conditions, will dictate the total number and value of purchased shares. As of January 6, 2014, $20.3 million of the authorization was available for future repurchases.
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