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ap

The Buckle will buy back up to 1 million shares

The Buckle will repurchase up to 1 million shares of common stock

  • On 2:55 pm EST, Friday November 21, 2008

NEW YORK (AP) -- Teen apparel retailer The Buckle Inc. said Friday it will buy back up to 1 million shares of common stock.

The buyback program will be added to the remaining 74,400 shares under an existing repurchase program.

Stock repurchases reduce the number of shares on the market, which increases the value for investors who continue to own the stock.

The company had about 30.7 million shares outstanding as of Aug. 29, according to an SEC filing.

Shares rose 39 cents to $14.97 during afternoon trading.

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