Genesco Plans $100M Increase To Repurchase Authorization

• Genesco Inc (NYSE:GCO) board has authorized a $100 million increase to its existing $100 million share repurchase authorization.
• Genesco has $1.0 million remaining under the existing share repurchase program. It has repurchased roughly 1.72 million shares at a total cost of about $99.0 million under the program.
• The company intends to implement the new authorization through purchases made from time to time using various methods, including open market purchases, private transactions, block trades.
• The company held $282.8 million in cash and equivalents as of October 30, 2021.
• Price Action: GCO shares closed lower by 0.43% at $61.86 on Friday.