CLAIBORNE SETS STOCK BUYBACK OF $100 MILLION
NEW YORK — Liz Claiborne Inc. said it has authorized the buyback of up to an additional $100 million of its stock.
As of Oct. 8, the women’s apparel giant said it had used all $775 million previously authorized under the stock buyback program first initiated in 1989.
Based on the Oct. 9 closing price, the new authorization covers about 1.9 million additional shares, or 2.8 percent of outstanding shares.
Shares of Claiborne closed at 52 15/16, down 1 9/16, Thursday on the New York Stock Exchange.