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BJ’s Wholesale Club, Inc. said this week that its board of directors has authorized the repurchase of up to an additional $200 million of the Natick, Mass.-based retailer’s common stock. Including this latest authorization, a total of about $271.8 million is available for share repurchases.
During BJ’s year-end conference call earlier this month, management revealed plans to spend about $100 million on share repurchases in fiscal 2010. Stock repurchases may be made from time to time, at management’s discretion, in the open market, including through Rule 10b5-1 plans, or in privately negotiated transactions.
The company operates 187 BJ’s Wholesale Clubs in 15 states.