will buy back up to 5 million common shares, the company said Thursday.
The department store chain has already repurchased about 4.05 million shares under a previous buyback plan, authorized in August 1999, that covered 5 million shares. The company has about 141.8 million shares outstanding. Yesterday,
took a deeper look at recent
corporate buyback activity.
Saks, which is based in Birmingham, Ala., was unchanged in recent
New York Stock Exchange
trading at $13.02.