Share Buyback Program Initiated by Abercrombie & Fitch (NYSE:ANF) Board of Directors
Abercrombie & Fitch (NYSE:ANF – Get Free Report) announced that its board has initiated a stock repurchase plan on Wednesday, March 5th, RTT News reports. The company plans to repurchase $1.30 billion in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 29.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Source link
