Pier 1 Imports To Buy Back Up To $100 Million In Shares

FORT WORTH (AP) – Pier 1 Imports Inc. plans to buy back up to $100 million of its common stock.

The home décor company said it had about 109.6 million outstanding shares as of Friday. At current prices, $100 million would buy roughly 8 percent of the company’s shares.

Last month Pier 1 reported that its fiscal second-quarter net income rose 15 percent because the retailer drew more shoppers who spent more.

While economic conditions are uncertain, the home decor company said Thursday that it expects a successful fall and holiday season.

Pier 1 is based in Fort Worth, Texas.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. YRofTexas says:

    Most of their products are from the Orient, therefore, are under priced and easily over charged. Imports will do great as domestic companies suffer. China and other countries that subsidize their citizens are strangling American business.

    Guess this goes to say Which Companies to invest in?

    Hint: dollar stores, walmart and others whose product base is better than 90% imported.

    Sad for America! We need our Home-Based companies to THRIVE and push out the importers! Perhaps Obama should be subsidizing the small American entrepreneurs instead of BIG BUSINESS???

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