Ralph Lauren Board Approves Additional $200 Mln Share Buyback Program

(RTTNews) - While reporting its fourth-quarter results today, apparel maker Ralph Lauren Corp. (RL) said its board of directors authorized an additional $200 million stock repurchase program that permits the company to purchase shares of its Class A common stock, subject to market conditions.

This amount is in addition to the $100 million available at the end of the fourth quarter of fiscal 2016 as part of a previously authorized stock repurchase program, bringing the company's total current authorization to $300 million.

The company also said it plans to provide outlook for the first quarter and full year fiscal 2017 at its Investor Day event on June 7, 2016.