Coach Is Packing Up Shares, Announces Billion Dollar Buyback
August 26, 2008 by Tisa Silver
Filed under Finance
Last night, Coach (one of my favorite handbag designers!) announced plans to buyback up to $1 billion worth of its outstanding shares.
The buyback will be completed by June 2010, in fact the company just completed a billion dollar buyback (started in winter 2007). Prior to news of the latest buyback being released, the stock was down almost 5 percent yesterday.
If Coach insiders believe that the stock is undervalued, the markets agree. This morning, the stock has gained 7 percent!
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