Pier 1 Imports Board OKs New $200 Mln Share Buyback Program

(RTTNews) - Pier 1 Imports, Inc.(PIR), an importer of imported decorative home furnishings and gifts, Friday said that its Board has authorized a new $200 million share buyback program. The buyback is effective immediately and authorizes the repurchase in open market or private transactions. As of October 17, the company had about 103.8 million common shares.

The company also announced the appointment of Cynthia McCague, Michael Peel, and Ann Sardini to the Board. The Board of Directors is currently comprised of Terry London, Chairman of the Board, Claire Babrowski; Cheryl Bachelder, John Burgoyne, Hamish Dodds, Brendan Hoffman, Cynthia McCague, Michael Peel, Ann Sardini, Alexander Smith, and Cece Smith.