Pier 1 2012 Annual Report Download - page 23

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Purchases of Equity Securities by the Issuer and Affiliated Purchasers
On March 25, 2011, the Board of Directors authorized an initial $100.0 million for repurchases of the
Company’s common stock. As of September 6, 2011, the Company had completed this $100.0 million initial
share repurchase program and purchased a total of 9,498,650 shares of its common stock at a weighted average
cost of $10.53 per share. On October 13, 2011, the Board of Directors authorized a new $100.0 million share
repurchase program and $100.0 million remained available for repurchase at the end of fiscal 2012. There were
no purchases of common stock of the Company made during the three months ended February 25, 2012, by Pier
1 Imports, Inc. or any “affiliated purchaser” of Pier 1 Imports, Inc., as defined in Rule 10b-18(a)(3) under the
Securities Exchange Act of 1934.
Subsequent to year end, the Company utilized a total of $15.2 million to repurchase 845,400 shares of the
Company’s common stock at a weighted average price per share, including fees, of $17.93 and as of April 20,
2012, $84.8 million remained available for repurchase under the program. There is no expiration date on the
current authorization and no determination has been made by the Company to suspend or cancel purchases under
the program.
During fiscal 2012, 195,130 shares of the Company’s common stock were acquired from employees to
satisfy tax withholding obligations that arose upon vesting of restricted stock granted pursuant to approved plans.
Performance Graph
The following graph compares the five-year cumulative total shareholder return for the Company’s
common stock against the Standard & Poor’s 500 Stock Index and the Standard & Poor’s Retail Stores
Composite Index. The annual changes for the five-year period shown on the graph are based on the assumption,
as required by the SEC’s rules, that $100 had been invested in the Company’s stock and in each index on
March 3, 2007, and that dividends were reinvested. The total cumulative dollar returns shown on the graph
represent the value that such investments would have had on February 25, 2012. The information used in the
graph below was obtained from Bloomberg L.P.
PIER 1 IMPORTS, INC. STOCK PERFORMANCE GRAPH
0
50
100
150
200
250
300
3/3/2007 3/1/2008 2/28/2009 2/27/2010 2/26/2011 2/25/2012
Pier 1 Imports, Inc. S&P 500 Stock Index S&P Retail Stores Composite Index
15