NEW YORK--Liz Claiborne Inc. has extended its share buyback program by $50 million, or about 2.9 million shares at current prices. As of Jan. 10, the company had purchased about 13.9 million shares at an aggregate purchase price of $392 million. The company has about 76.7 million shares outstanding. The company's recent earnings have been lackluster, but it still has a cash hoard of over $300 million. In announcing the new buyback, the company noted that it believes using a portion of its "available cash in this manner is in the best interest of our shareholders." Claiborne stock closed Wednesday at 17 3/8, up 1/8 in trading on the New York Stock Exchange.
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