The board of directors of Zale Corporation has approved an increase of $100 million to the company’ s stock repurchase program.

Zale initially authorized a $200 million repurchase program in November 2007, saying that it expects to retire approximately 11 million shares once the $200 million repurchase is complete. Currently, approximately $60 million is available under the previous authorization.

The new authorization is in addition to the November allocation and is expected to be executed through open market purchases.

“As we have stated, the company is committed to the generation of free cash flow through operational efficiencies, refinements in capital expenditures and a reduction in inventory levels,” said Rodney Carter, Zale’s  chief financial officer. “This additional authorization underscores Zale’ s commitment to prudent uses of capital and is another step designed to generate value for shareholders over the long-term.”