Content about Buybacks

September 4, 2014

The board of directors of Nordstrom Inc. has authorized a repurchase program of up to $1 billion of the company’s outstanding common stock, through March 1, 2016.

Seattle – The board of directors of Nordstrom Inc. has authorized a repurchase program of up to $1 billion of the company’s outstanding common stock, through March 1, 2016. Nordstrom intends to fund the repurchase program from existing cash on hand.

August 13, 2014

GNC Holdings, Inc.’s board of directors has authorized a multi-year program to repurchase up to an aggregate $500 million of the company's Class A common stock.

Pittsburgh -- GNC Holdings, Inc.’s board of directors has authorized a multi-year program to repurchase up to an aggregate $500 million of the company's Class A common stock. The authorization is effective immediately and replaces GNC’s previous authorization, which had approximately $250 million remaining.  

The repurchases are expected to take place over the next 24 months.

August 11, 2014

Darden Restaurants, Inc., which operates the Olive Garden and LongHorn Steakhouse banners among others, has completed the repurchase of approximately $900 million of the previously announced $1 billion debt retirement, leaving approximately $1.6 billion of debt on its balance sheet.

Orlando, Fla. -- Darden Restaurants, Inc., which operates the Olive Garden and LongHorn Steakhouse banners among others, has completed the repurchase of approximately $900 million of the previously announced $1 billion debt retirement, leaving approximately $1.6 billion of debt on its balance sheet.

July 24, 2014

The Priceline Group Inc. has successfully completed its previously announced tender offer to purchase all outstanding shares of common stock of OpenTable Inc. for $103 per share in cash.

Norwalk, Conn. - The Priceline Group Inc. has successfully completed its previously announced tender offer to purchase all outstanding shares of common stock of OpenTable Inc. for $103 per share in cash. The all-cash transaction is valued at $2.6 billion.

June 6, 2014

The Panera Bread Company board of directors has approved a new three-year share repurchase program of up to $600 million. This new program will replace an existing program which was scheduled to expire on Aug. 23, 2015 and has been terminated by the board of directors in connection with approving the new program.

St. Louis — The Panera Bread Company board of directors has approved a new three-year share repurchase program of up to $600 million. This new program will replace an existing program which was scheduled to expire on Aug. 23, 2015 and has been terminated by the board of directors in connection with approving the new program.

The repurchases will be effected from time to time. The share repurchase program and the board's authorization of the program may be modified, suspended, or discontinued at any time.

May 28, 2014

The board of directors of Urban Outfitters Inc. has authorized the repurchase of 10 million common shares under a share repurchase program.

Philadelphia – The board of directors of Urban Outfitters Inc. has authorized the repurchase of 10 million common shares under a share repurchase program. Pursuant to this program, the company, at its discretion, may repurchase its common shares from time to time, subject to market conditions and at prevailing market prices.

Urban Outfitters has repurchased all of the shares available under its previous share repurchase programs, including the 10 million common shares authorized by the board of directors in August 2013.

April 16, 2014

Gap Inc. highlighted its use of technology and innovation to bridge the growing digital world with its physical stores at the company’s annual meeting with investors.

San Francisco -- Gap Inc. highlighted its use of technology and innovation to bridge the growing digital world with its physical stores at the company’s annual meeting with investors. In new initiatives, the retailer is expanding its reserve in-store service to all U.S. Gap stores by the end of the second quarter, enabling online and mobile shoppers to now reserve items at more than 1,000 Gap and Banana Republic store locations.

April 10, 2014

In the wake of acquiring Houston-based RediClinic, Rite Aid on Thursday reported revenues of $6.6 billion for the fourth quarter ended March 1, resulting from a 2.2% lift primarily attributed to an increase in pharmacy same-store sales.

Camp Hill, Pa. — In the wake of acquiring Houston-based RediClinic, Rite Aid on Thursday reported revenues of $6.6 billion for the fourth quarter ended March 1, resulting from a 2.2% lift primarily attributed to an increase in pharmacy same-store sales. For the full year, Rite Aid reported $25.5 billion in revenues, up 0.5%.

March 13, 2014

The Kroger Co. said Thursday that it will buy back up to $1 billion of its shares.

Cincinnati -- The Kroger Co. said Thursday that it will buy back up to $1 billion of its shares. The repurchase program replaces its existing plan, which had roughly $2 million remaining.

Kroger also declared a regular quarterly dividend of 16.5 cents per share, payable June 1 to shareholders of record May 15.
During the last four quarters, Kroger has used its strong free cash flow to return more than $928 million to shareholders through share buybacks and dividends.  

February 20, 2014

HSN Inc. reported gains in net income and sales during the fourth quarter and fiscal year 2013, compared to the same periods a year earlier.

St. Petersburg, Fla. – HSN Inc. reported gains in net income and sales during the fourth quarter and fiscal year 2013, compared to the same periods a year earlier. During the quarter, HSN Inc.’s adjusted net income increased 7% to $59.9 million from $56 million, while net sales increased 4% to $1.02 billion from $982.9 million.

November 27, 2013

The board of directors of GNC Holdings has authorized a multi-year program to repurchase up to an aggregate $500 million of the company's Class A common stock.

Pittsburgh – The board of directors of GNC Holdings has authorized a multi-year program to repurchase up to an aggregate $500 million of the company's Class A common stock. The authorization is effective immediately.  The GNC may finance any repurchases with cash, potential financing transactions, or a combination of the foregoing.  

November 26, 2013

Konover South has bought back a portfolio of nine Florida retail shopping centers valued at more than $100 million.

Deerfield Beach, Fla. — Konover South has bought back a portfolio of nine Florida retail shopping centers valued at more than $100 million. Konover had previously sold a share of the portfolio to an institutional investment partner. The buy-back returns complete ownership to Konover, which developed or redeveloped the properties over the years.

Peoples United Bank provided $75 million of new permanent financing for the transaction.

November 21, 2013

Gap Inc. reported a 9.4% increase in third-quarter profit as the retailer's turnaround continues.

San Francisco -- Gap Inc. reported a 9.4% increase in third-quarter profit as the retailer's turnaround continues. The company also reaffirmed its full-year profit guidance and said it is increasing its stock buyback authorization by $1 billion.

The chain posted net income of $337 million in the three-month period ended Nov. 2, compared with $308 million last year.

October 18, 2013

Pier 1 Imports announced that its board of directors has authorized a new $200 million share repurchase program.

Fort Worth, Texas -- Pier 1 Imports announced that its board of directors has authorized a new $200 million share repurchase program.

The new share repurchase program is effective immediately and authorizes the repurchase of up to $200 million of the company’s common stock in open market or private transactions. As of October 17, 2013, Pier I had approximately 103.8 million shares of common stock outstanding.
 

October 18, 2013

The board of directors of Safeway Inc. has increased the authorized level of the company's stock repurchase program by $2 billion.

Pleasanton, Calif. – The board of directors of Safeway Inc. has increased the authorized level of the company's stock repurchase program by $2 billion. Through the end of the third quarter of 2013, Safeway had approximately $800 million remaining under its previously authorized stock repurchase program.

August 1, 2013

Hhgregg saw a significant improvement in its financial results for the three-month period ended June 30.

New York -- Hhgregg saw a significant improvement in its financial results for the three-month period ended June 30. Despite a net loss of $1.3 million, or $0.04 per diluted share, the specialty retailer narrowed the gap from a net loss of $5.7 million, or $0.16 per diluted share, for the comparable prior-year period.

The decrease in net loss for the three month period ended June 30, 2013 was due, in part, to a comparable-store sales increase of 0.8%, offset by a decrease in gross profit as a percentage of net sales.

July 24, 2013

The Men’s Wearhouse, Inc. has reached an agreement to repurchase $100 million worth of common stock from JPMorgan Chase Bank, NA under an accelerated share repurchase program.

Houston – The Men’s Wearhouse, Inc. has reached an agreement to repurchase $100 million worth of common stock from JPMorgan Chase Bank, NA under an accelerated share repurchase program. The retailer will buy the shares as part of an ongoing $200 million share repurchase program announced in March of this year. Men’s Wearhouse expects to close the transaction by the end of fourth quarter 2013.

July 15, 2013

Krispy Kreme Doughnuts said its board has approved the repurchase of up to $50 million of the company's common stock, effective immediately.

Winston-Salem, N.C. -- Krispy Kreme Doughnuts said its board has approved the repurchase of up to $50 million of the company's common stock, effective immediately. 

July 9, 2013

The Kroger Co. has reached an agreement to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash, or about $2.5 billion.

Cincinnati -- The Kroger Co. has reached an agreement to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash, or about $2.5 billion. Kroger will finance the transaction with debt and also assume about $100 million of debt from Harris Teeter.

Harris Teeter operates 212 stores in North Carolina, Virginia, South Carolina, Maryland, Tennessee, Delaware, Florida, Georgia and the District of Columbia primarily in the Carolinas. The company had revenues of approximately $4.5 billion for fiscal year 2012.

June 19, 2013

Rite Aid is offering to buy back $810 million worth of debt while increasing the amount of a new bond sale announced Tuesday, the retail pharmacy chain said.

Camp Hill, Pa. — Rite Aid is offering to buy back $810 million worth of debt while increasing the amount of a new bond sale announced Tuesday, the retail pharmacy chain said.

Rite Aid said it would buy back all of its $810 million worth of 9.5% senior notes due 2017. The company also said it would increase the $400 million offering of 6.75% senior notes due 2021 by another $410 million, for a total of $810 million, as part of a debt-refinancing plan.

June 10, 2013

Wal-Mart Stores held its annual shareholders meeting on Friday morning and the most noteworthy development at the event — aside from a $15 billion share repurchase authorization — was a surprise appearance and glowing comments by Hollywood heavyweight Tom Cruise.

Bentonville, Ark. -- Wal-Mart Stores  held its annual shareholders meeting on Friday morning and the most noteworthy development at the event — aside from a $15 billion share repurchase authorization — was a surprise appearance and glowing comments by Hollywood heavyweight Tom Cruise.

June 7, 2013

Wal-Mart Stores Inc. announced a $15 billion share buyback program at its annual shareholder meeting on Friday.

Bentonville, Ark. -- Wal-Mart Stores Inc. announced a $15 billion share buyback program at its annual shareholder meeting on Friday. It also said it expects to generate $10 billion in global e-commerce sales by the end of the fiscal year.

The new buyback program replaces the previous $15 billion plan, which had about $712 million remaining under the 2011 authorization.  

June 4, 2013

United Supermarkets has completed a transaction to acquire Llano Logistics. Llano has operated United’s two distribution centers – in Lubbock and Roanoke – since their opening.

Lubbock, Texas -- United Supermarkets has completed a transaction to acquire Llano Logistics. Llano has operated United’s two distribution centers – in Lubbock and Roanoke – since their opening.

The deal closed May 31 and means Llano, which had been owned by Exel, a subsidiary of Deutsche Post DHL, is now owned by United.

It is the company’s third subsidiary operation in addition to its 52-store supermarket/ convenience store chain. United purchased R.C. Taylor Distributing in 2007 and added Praters Foods in 2009.

March 20, 2013

Williams-Sonoma Inc.'s fourth-quarter net income rose a better-than-expected 9%, helped by strong online sales, gains at its West Elm brand and the benefit of an extra week in the period.

San Francisco -- Williams-Sonoma Inc.'s fourth-quarter net income rose a better-than-expected 9%, helped by strong online sales, gains at its West Elm brand and the benefit of an extra week in the period.

The company also said it is increasing its quarterly cash dividend by 41% to 31 cents per share, and announced plans to buy back up to $750 million of its shares over the next three years.

March 6, 2013

American Eagle Outfitters Inc. reported Wednesday that profit for the quarter ended Feb. 2 soared to $94.8 million from $51.3 million in the year-ago period, aided by few markdowns.

Pittsburgh -- American Eagle Outfitters Inc. reported Wednesday that profit for the quarter ended Feb. 2 soared to $94.8 million from $51.3 million in the year-ago period, aided by few markdowns.

However, the retailer warned that sales will be weak in the first quarter due to economic restrictions and unfavorable weather.