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Benzinga

Shivani Kumaresan

Jun 28, 2022, 6:49 PM

Lands' End Adopts $50M Stock Buyback Program

Lands' End Inc (NASDAQ:LE) Board of Directors has authorized the repurchase of up to $50 million of the company's shares through February 2, 2024.
Under the program, the company may purchase its shares from time to time in the open market or privately negotiated transactions.
The company plans to fund the repurchases through existing cash on hand, cash from operations, borrowings under its asset-based senior secured credit facility, or a combination of the foregoing.
Lands' held $24 million in cash and equivalents as of April 29, 2022.
Simultaneously, the company continues to explore debt refinancing options as part of its ongoing commitment to drive stockholder value.
Price Action: LE shares are trading higher by 7.75% at $12.24 on the last check Tuesday.

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