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Genesco (GCO) - Get Genesco Inc. Report shares were higher on Monday after the Nashville specialty retailer said its board authorized management to buy back as much as $100 million of shares.

In two previous buybacks over the past 10 months, Genesco bought 5.3 million shares for about $225 million, or about $42.45 apiece.

Genesco shares Monday were up 2.5% at $40.17. They've traded up as much as 3.5% to $40.58.

The stock's 52-week range is $31.65 to $50.73.

The company's trailing 12 months price-earnings multiple is 9.3 and its market capitalization is $588 million.

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Genesco, founded 1924, sells through a number of brands, including Johnston & Murphy, Lids and Journeys. It operates around 1,500 stores in the U.S., Canada, the U.K. and Ireland.

For the fiscal first half ended Aug. 3, Genesco swung to a profit of 41 cents a share from a loss of 12 cents in the year-earlier period. Its shares outstanding fell 13% to 16.9 million.

Revenue edged up less than 1% to $982.2 million. Comparable-store sales rose 4%.

Here's a recent check of the charts on Genesco.

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