Lululemon Athletica announces $1B stock buyback plan
Lululemon Athletica (NASDAQ:LULU) has announced a new stock repurchase authorization to buyback up to $1B of its common shares.
The athletic apparel retailer repurchased 2.2M shares of its own common stock in 2021 for a total cost of $812.6M.
As at Jan. 30, 2022, the company had $187.5M of authorization remaining on its stock repurchase program. During the first quarter of fiscal 2022, the company completed the remaining stock repurchases under this program.
LULU shares are tradingÂ 6.93%Â higher after the retailer reported its FQ4 results.