By  on September 4, 2014

Nordstrom Inc. has authorized $1 billion to be used for common share repurchases through March 2016.

The new plan, approved by Nordstrom’s board, is in addition to an existing share repurchase authorization of $800 million that was approved in February 2013 and would expire next March. The program, initially set at $800 million, has an additional $323 million available for stock buybacks.

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