Zumiez, Inc. (ZUMZ) Approves $50M Common Stock Buyback Plan

Zumiez, Inc. (NASDAQ: ZUMZ) disclosed the following on Monday:

Effective as of June 22, 2015, the Board of Directors of Zumiez Inc. (the “Company”) has approved the repurchase of up to an aggregate of $50 million of its Common Stock (the “New Repurchase Program”). The repurchases will be made from time to time on the open market at prevailing market prices. The New Repurchase Program is expected to continue through the fiscal year 2015 that will end on January 30, 2016, unless the time period is extended or shortened by the Board of Directors.

The New Repurchase Program supersedes all previously approved and authorized stock repurchase programs, specifically the previous authorization to repurchase up to an aggregate of $30 million of Common Stock that was previously approved by the Board of Directors on December 10, 2014 (the “Prior Repurchase Program”). As of June 19, 2015, the Company has repurchased approximately 1.0 million shares of our common stock for an average cost per share of $26.60, for a total of $27.7 million under the Prior Repurchase Program.

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