Pic'N'Save's repurchase plan bolsters stock price.

Los Angeles Business Journal | March 5, 1990| | Copyright

Pic'N'Save's repurchase plan bolsters stock price

Discount retailer plans major expansion in Southeast

Los Angeles-based Pic'N'Save Corp. will buy back 5 million shares of its common stock, a "strong testimonial by the management" in the 190-store retail chain, one analyst said.

"The repurchase includes more than 14 percent of the company's outstanding stock (35.5 million shares), making this much more than a token move," said William Tichey, an analyst with New York-based Dean Witter Reynolds. "Given Pic'N'Save's expansion plans into the ...

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