Burlington Stores (NYSE: BURL) announced that its Board of Directors has authorized the Company to repurchase up to $200 million of its common stock. The repurchase program will be funded using the Company’s available cash and is expected to be executed over the next 24 months.

Tom Kingsbury, Chairman, President and Chief Executive Officer stated: “The decision by our Board of Directors to authorize this $200 million share repurchase program reflects their confidence in our business and strategy, as well as the Company’s commitment to utilize its strong cash flow for the benefit of shareholders.”

The Company is authorized to repurchase from time to time shares of its outstanding common stock on the open market or in privately negotiated transactions. The timing and amount of stock repurchases will depend on a variety of factors, including the market conditions as well as corporate and regulatory considerations. The share repurchase program may be suspended, modified or discontinued at any time and the Company has no obligation to repurchase any amount of its common stock under the program.