By  on February 5, 2008

Off-pricer TJX Cos. Inc. said on Monday that its board approved a new stock repurchase program of up to $1 billion of TJX common stock, or 7.5 percent of the company's outstanding common shares, at current prices.

The program is in addition to the $486 million remaining under the retailer's existing $1 billion authorization from February 2007. So far, the company has spent $5.8 billion on the repurchase of stock for 342 million shares since 1997.

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