In January 10th, -PR Newswire Brown Shoe Company, Inc. (Brown footwear) (NYSE: BWS) announced today that the board of directors approved a stock buyback plan of up to 2 million 500 thousand shares.

Ron Fromm, chairman and chief executive of the company, said: "the stock repurchase authorization demonstrates our confidence in our business and long-term forecasts and our commitment to return value to shareholders.

Over the past few weeks, we have repurchased nearly 2 million 400 thousand stocks based on previous stock repurchase authorization.

We have maintained a sound balance sheet, and we believe that the latest authorization scheme will enable us to carry out strategic plans to double the company's sales and profits in the next five years, and also enable us to flexibly carry out future pactions related to this strategy. "

Part of the repurchase stock will probably be used for the company's employee benefits program, and the balance will be used for other conventional uses of the company.

The stock repurchase authorization does not have a deadline. The pace of our buyback activities will depend on the level of cash generated by the business sector, cash requirements for investment, debt repayment, current stock prices and other factors.

The company may buy shares periodically from open market or private pactions, including structured pactions.

The share repurchase program may be modified or terminated at any time.