Lands' End Adopts $50M Stock Buyback Program

  • Lands' End Inc LE Board of Directors has authorized the repurchase of up to $50 million of the company's shares through February 2, 2024.
  • Under the program, the company may purchase its shares from time to time in the open market or privately negotiated transactions.
  • The company plans to fund the repurchases through existing cash on hand, cash from operations, borrowings under its asset-based senior secured credit facility, or a combination of the foregoing. 
  • Lands' held $24 million in cash and equivalents as of April 29, 2022.
  • Simultaneously, the company continues to explore debt refinancing options as part of its ongoing commitment to drive stockholder value.
  • Price Action: LE shares are trading higher by 7.75% at $12.24 on the last check Tuesday.

Posted In: BriefsNewsBuybacksSmall Cap

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