Caleres Board of Directors Authorizes Stock Repurchase Program
December 14 2018 - 4:15PM
Business Wire
Addition of up to 2.5 million shares displays
confidence in company’s long-term prospects and honors commitment
to return value to shareholders
The Caleres (NYSE: CAL) (caleres.com) Board of Directors has
authorized a stock repurchase program of up to 2.5 million shares,
displaying the confidence the company has in its business and
long-term prospects, as well as honoring its commitment to return
value to shareholders. This program is in addition to the existing
stock repurchase program, which was approved on August, 25, 2011.
As of November 3, 2018, the plan had 1,123,500 shares remaining
and, since that time, the company has purchased substantially all
of the shares that were authorized.
A portion of the shares from the new repurchase program may be
used for the company’s employee benefits plans, while the balance
will be available for other general corporate purposes. The stock
repurchase authorization does not have an expiration date, and the
pace of the repurchase activity will depend on factors such as,
levels of cash generation from operations, cash requirements for
investments, repayment of debt, current stock price and other
factors.
The company may repurchase shares from time to time on the open
market or in private transactions, including structured
transactions. The stock repurchase program may be modified or
discontinued at any time.
About CaleresCaleres is a diverse portfolio of global
footwear brands. Our products are available virtually everywhere -
in the over 1,200 retail stores we operate, in hundreds of major
department and specialty stores, on our branded e-commerce sites,
and on many additional third-party retail websites. Famous Footwear
offers great casual and athletic brands for the entire family with
convenient, curated, affordable collections. Sam Edelman keeps
expressive women in step with the latest trends in a playful,
whimsical way. Naturalizer shoes are beautiful from the inside out,
with elegant simplicity and legendary fit re-imagined for today’s
consumer. Allen Edmonds combines old world craft with new world
technology to create luxe footwear for the discerning man who wants
sophisticated, modern classics. Rounding out our family of brands
are Vionic, Vince, Franco Sarto, Dr. Scholl’s Shoes, LifeStride,
Via Spiga, Diane von Furstenberg, Blowfish Malibu, Bzees, Carlos by
Carlos Santana, Circus by Sam Edelman, Fergie and Ryka. Combined,
these brands make Caleres a company with both a legacy and a
mission. Our legacy is our more than 140 years of craftsmanship and
our passion for fit, while our mission is to continue to inspire
people to feel good… feet
first. Visit caleres.com to learn more about us.
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version on businesswire.com: https://www.businesswire.com/news/home/20181214005394/en/
Investor and Media Contact:Peggy Reilly Tharp,
Caleres(314) 854-4134, ptharp@caleres.com
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