Item 8.01 Other Events.
On October 5, 2020, Apogee Enterprises, Inc. (the "Company") provided the
following business updates:
Share repurchases
The Company intends to reinstate its previously authorized share repurchase
program, pursuant to which the Company has remaining authority to repurchase up
to 2,063,596 shares (the "Share Repurchase Program"). Repurchases under the
Share Repurchase Program were temporarily suspended in April 2020 due to
economic uncertainty stemming from the COVID-19 pandemic. The timing and pace of
the Company's repurchase activity under the Share Repurchase Program, if any,
will depend on a number of factors, including the amount of cash generated by
the Company's operations, the Company's liquidity and capital requirements, the
Company's potential alternative uses of capital and the Company's stock price.
The timing and amount of the Company's repurchases, if any, will also be subject
to management's evaluation of market conditions, applicable legal requirements
and other factors. The Company may initiate, suspend or discontinue purchases
under the Share Repurchase Program at any time and without prior notice.
Cost reductions
After the end of the second quarter of fiscal 2021, the Company completed an
assessment of certain opportunities to reduce selling, general, and
administrative (SG&A) expenses, identifying near-term and long-term actions,
with the goals of reducing SG&A costs and improving productivity across the
Company. The Company has preliminarily determined that expected cost savings, on
an annual run-rate basis, of such opportunities should be at least $10 to 20
million by the end of fiscal 2023. The costs to implement such opportunities are
likely to be recognized during the latter part of the fourth quarter of fiscal
2021 and during fiscal 2022. These SG&A reduction opportunities are in addition
to the cost savings actions, of $40 million on an annualized basis, referenced
in the Company's second quarter earnings release, dated September 17, 2020.
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APOGEE ENTERPRISES, INC. 
