Home furnishing company Pier 1 Imports Inc (PIR
) announced on Friday that its board of directors has approved a $200 million share buyback program.
The buyback is effectively immediately. The program allows the repurchase of shares in the open market or through private transactions.
The Company has also announced that its Board of Directors has elected Cynthia P. McCague, Michael A. Peel, and Ann M. Sardini to the Board of Directors.
Pier 1 Imports shares were up 45 cents, or 2.22% during premarket trading Friday. The stock has been mostly flat YTD.
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