Staples (SPLS) is putting together a new buyback plan.
The Framingham, Mass.-based office-supplies retailer said Thursday that its board approved the buyback of up to $1.5 billion in stock.
The new share repurchase program replaces a previously authorized $1.5 billion plan. As of Wednesday, about $1.2 billion in stock had been bought under that program.
Staples has about 715 million shares outstanding. Shares recently were trading up 21 cents, or 0.9%, to $24.52.