Shoe Carnival (SCVL) Extends Expiration on $25M Buyback Plan

January 2, 2013 11:17 AM EST
Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories, today announced its Board of Directors extended the expiration date of its existing $25.0 million share repurchase program to December 31, 2013. The repurchase program was originally approved by the Company’s Board of Directors on August 23, 2010.

The Company has funded, and will continue to fund, the share repurchase program from cash on hand. Share repurchases may be made in the open market or through privately negotiated transactions from time-to-time and in accordance with applicable laws, rules and regulations. The total number and value of the shares to be purchased will depend on the performance of the Company’s share price and other market conditions. As of January 2, 2013, $20.3 million of the authorization was available for future repurchases.

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