Firstly, how is earning 5.6% on cash spinning one's wheels? Secondly, taking away another 1M+ in shares increases EPS as you stated about another 4-5%. UGG PURE integration going to increase cash flow, increase in revenues which will increase earnings going to increase cash flow. Stock trading flat for two years despite growth back on track and record revenues this year. Company should be buying back stock hand over fist.
Get board approval and buy back another 100M. Cash sitting on hand for another year doesn;t help us. Build the UGG brand internationally and build up the other brands....but buy back more stock at these prices. This is ridiculously cheap! We should make another 150M+ in cash this year and can afford it