Effective as of December 17, 2012, the Board of Directors of Zumiez Inc. has approved the repurchase of up to an aggregate of $20 million of its Common Stock (the “New Repurchase Program”), according to an official statement on the company’s investor relations page.
The repurchases will be made from time to time on the open market at prevailing market prices. The New Repurchase Program is expected to continue through the fiscal year 2013 that will end on February 1, 2014, unless the time period is extended or shortened by the Board of Directors.
The New Repurchase Program is in addition to the authorization to repurchase up to an aggregate of $22 million of Common Stock that was previously approved by the Board of Directors on November 13, 2012 and disclosed on a report on Form 8-K filed on November 14, 2012 (the “Prior Repurchase Program”). As of December 17, 2012, the Prior Repurchase Program was completed.