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Perry Ellis OKs new $20 million stock buyback program


Published : Fri, 30 Nov 2007 21:22
By : Agencies
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NEW YORK (Thomson Financial) - Perry Ellis International said it has OK'd a new program to buy back up to $20 million worth of its common stock.

The buybacks will be funded using cash balances and available credit facilities.

Shares of the Miami-based designer, distributor and licensor of apparel, accessories and fragrances were down 2.1% at $15.21, and hit a 13-month low of $14.83 in intraday trading.

Tomi Kilgore

tk1

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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