Fossil (FOSL) Announces New $1B Share Buyback Plan

December 5, 2012 9:30 AM EST
Fossil, Inc. (Nasdaq: FOSL) announced that its Board of Directors has approved a new stock repurchase program. Under the new program, the Company is authorized to repurchase up to $1.0 billion of its outstanding shares of common stock from time to time, depending on market conditions, share price and other factors.

In August 2010, the Company announced a $750 million share repurchase program (the "$750 Million Program"). As of December 4, 2012, the Company had repurchased 9,031,066 shares at a cost of approximately $693,117,783 under the $750 Million Program. The Company expects to complete the $750 Million Program in the Company's 2013 first fiscal quarter.

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