Pier 1 Announces New $200M Share Buyback

Pier 1 Imports

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.