Lululemon (LULU) Lifts Stock Buyback Authorization by $500 Million

October 4, 2021 5:24 PM EDT

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Lululemon Athletica Inc. (NASDAQ: LULU) disclosed that its board of directors approved a $500 million increase in the authorization of the company's current stock repurchase program to $641.2 million from $141.2 million.

Lululemon said common shares may be repurchased on the open market or in privately negotiated transactions, with the repurchase authorization having no time limit and no requirement on the minimum number of shares to be repurchased.

In the second quarter of 2021, Lululemon repurchased 0.5 million shares of its own common stock at an average price of $338.41 per share for a total cost of $171.1 million.

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