Coach is packing up its shares
Last night, Coach (one of my favorite handbag designers!) announced plans to buyback up to $1 billion worth of its outstanding shares.
The buyback will be completed by June 2010, in fact the company just completed a billion dollar buyback (started in winter 2007). Prior to news of the latest buyback being released, the stock was down almost 5 percent yesterday.
If Coach insiders believe that the stock is undervalued, the markets agree. This morning, the stock has gained 7 percent.
Tags: buyback, coachRelated Stories
POSTED IN: Corporate, Investment, Market, News
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