New-Jersey based retailer Burlington Coat Factory Warehouse Corporation has adopted a new stock repurchase programme authorising the repurchase of up to $10 million of its common shares in over the next three years.

Any repurchases must be made in the open market or in negotiated transactions.

Repurchased shares will be held by the company to meet obligations under its present and future stock option plans and employee benefit plans.

Burlington Coat Factory Warehouse Corporation operates over 330 retail stores in the US selling cut-price brand-name clothing.