NKE Nike Inc

By Kathryn Hardison

Nike Inc. said Monday its board of directors has approved an $18 billion buyback program of Class B common stock.

The retailer said the new four-year program will replace the current $15 billion share repurchase program, which will be terminated in fiscal year 2023.

Repurchases under the new program will be made in open market or privately negotiated transactions.

Shares fell 0.2% in after-hours trading.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

June 27, 2022 16:52 ET (20:52 GMT)

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