Lululemon Athletica announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 7th 2023, which allows the company to repurchase $1,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.