Gymboree's board authorizes $100 million stock buy back

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San Francisco Gymboree Corp. received approval to buy back $100 million worth of its common stock.

At current prices, that equals about 8% of common shares.

Reuters reported that the repurchase period ends June 8, 2011.

Gymboree completed a $40 million stock repurchase on May 24. As of May 1, the company has $270.7 million in cash and cash equivalents.