Chico's FAS, Inc. (NYSE: CHS), a retailer of women's apparel and accessories, has recently made an announcement that is sure to catch the attention of investors. The company's Board of Directors has authorized a new share repurchase program, demonstrating their ongoing commitment to delivering value to shareholders.

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Returning Value to Shareholders

With the new share repurchase program, Chico's FAS aims to repurchase up to $100 million of the company's common stock. This move follows the cancellation of the remainder of its previous share repurchase program, which was initially announced back in November 2015. While the company had completed all but $35.4 million of its previous authorization, the Board felt it was time to introduce a fresh program.

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Flexible Repurchase Options

Under the new program, Chico's FAS has the flexibility to repurchase its common stock through various means. These include open market transactions, privately negotiated transactions, block transactions, or other methods in accordance with the Securities Exchange Act of 1934. The company can also utilize trading plans adopted under Rule 10b5-1, which allows for the repurchase of shares at management's discretion.

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Factors Influencing Repurchases

The decision to repurchase shares will be influenced by several factors. Chico's FAS will consider the market price of its common stock, general business and market conditions, alternative investment opportunities, and applicable legal and regulatory requirements. It's important to note that the company is not obligated to purchase any shares under the program. This ensures that the repurchase decisions align with the best interests of the company and its shareholders.

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Flexible and Ongoing Program

Unlike programs with strict expiration dates, the newly authorized share repurchase program has no set end date. This means that Chico's FAS can continue repurchasing shares at any time or from time-to-time as determined by management. The Board holds the power to suspend, modify, or terminate the program as they see fit. This flexibility enables the company to adapt to changing market conditions and seize strategic opportunities.