Guess announces share buy back programme

Guess has announced that its Board of Directors has authorized a new programme to allow the company to repurchase up to $500 million of its common stock when market and business conditions make it necessary.

The programme is being added to the existing $250 million repurchase authorization announced in March 2011, under which nearly $231 million were used to repurchase around 8.2 million shares, including 5 million shares during the current fiscal quarter. An estimated $19 million are still available for repurchasing under this existing authorization.

According to both repurchasing programs, there is no minimum or maximum number of shares to be repurchased, and both can be discontinued at any time.