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Stock Repurchase Program
6 Months Ended
Jun. 26, 2012
Stock Repurchase Program  
Stock Repurchase Program

(10)  Stock Repurchase Program

 

On February 16, 2012, our Board of Directors approved a stock repurchase program under which it authorized us to repurchase up to $100.0 million of our common stock.  Historically, repurchases under our stock repurchase program are made through open market transactions.  The timing and the amount of any repurchases will be determined by management under parameters established by our Board of Directors, based on its evaluation of our stock price, market conditions and other corporate considerations.

 

We did not repurchase any shares of our common stock during the 13 and 26 week periods ended June 26, 2012 or the 13 weeks ended June 28, 2011 through this authorized stock repurchase program.  For the 26 weeks ended June 28, 2011, we paid approximately $25.3 million to repurchase 1,500,000 shares of our common stock under a previously approved program.  These shares were retired in the second quarter of 2011.