Athletic shoe and apparel company K-Swiss Inc. on Wednesday said its board authorized a new program to buy back up to $70 million in stock.
The program replaces the company's existing 2004 buyback plan for up to 5 million shares, which expires on Dec. 31.
The company may purchase up to $70 million of its Class A stock through Dec. 31, 2014.
K-Swiss shares finished Tuesday's trading at $8.24.
