CINCINNATI (AP) — Kroger’s board has approved a $500 million stock buyback, the supermarket chain announced on the day of its annual shareholder meeting in Cincinnati.

The buyback replaces a previous approval that had been used up. The company said it bought back 25.7 million shares for $1.1 billion in its fiscal first quarter. It doesn’t expect to make any more significant purchases the rest of the year but said actual purchases will depend on market conditions.

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