Pier 1 Announces New $200M Share Buyback
Pier 1 Imports (NYSE: PIR) today announced its Board of Directors
has authorized a new $200 million share repurchase program. The new
share repurchase program is effective immediately and authorizes the
repurchase of up to $200 million of the Company's common stock in open
market or private transactions. The timing of the repurchases will
depend on several factors, including prevailing market conditions and
prices. As of October 17, 2013, the Company had approximately 103.8
million shares of common stock outstanding.
Board of Directors
The Company also announced the Board of Directors elected Cynthia P.
McCague, Michael A. Peel, and Ann M. Sardini to the Board of Directors.