Lands' End Inc. (NASDAQ: LE) announced that its board of directors authorized the repurchase of up to $100 million of the company's common stock from April 1, 2026 through March 31, 2029.

Under the program, the company may purchase shares in the open market, through privately negotiated transactions, or by other means in accordance with federal securities laws. The timing and amount of purchases will depend on factors including share price, availability, trading volume and market conditions.

"This share repurchase authorization demonstrates the Board and management team's strong belief in our strategy and the path ahead to deliver compelling shareholder value," said Bernard McCracken, chief financial officer.

The company expects to fund purchases through existing cash, cash from operations, distributions from a joint venture, borrowings under its credit facility, or a combination of these sources. The program may be suspended or discontinued at any time.

Under the company's prior share repurchase program, which expired on March 31, 2026, Lands' End repurchased 1.26 million shares for $16.0 million beginning in April 2024. The previous program had dollar amount limitations due to term loan provisions that are no longer applicable.

McCracken noted that the company used proceeds from a transaction with WHP Global to repay term loan debt in full, which reduced interest expense and improved the balance sheet. The company recently created an intellectual property joint venture with WHP Global.

Repurchases may be made under a Rule 10b5-1 plan, which permits share repurchases when the company might otherwise be restricted under insider trading laws.