PFSweb Announces Authorization of Share Repurchase Program
20 Mars 2023 - 1:30PM
PFSweb, Inc. (NASDAQ: PFSW) (the “Company”), a premier eCommerce
order fulfillment provider, announced that its board of directors
has authorized a share repurchase program, under which the Company
may purchase up to an aggregate of 1,000,000 shares of its common
stock. The program will be in place for up to two years.
Subject to applicable rules and regulations, the shares may be
purchased from time to time in the open market or in privately
negotiated transactions. The share repurchase program will be
conducted in accordance with Rule 10b-18 under the Securities
Exchange Act of 1934, as amended. Such purchases will be at times
and in amounts as PFSweb deems appropriate, based on factors such
as market conditions, legal requirements, and business
considerations. The share repurchase program does not require the
Company to repurchase shares and can be terminated at any time. The
Company intends to fund any purchases with existing cash balances
and/or cash flow from operations.
“Our share repurchase program reflects our confidence in our
long-term growth trajectory and market opportunity, along with our
previously disclosed strong start to the 2023 calendar year, which
I do not believe is appropriately reflected in our current
valuation,” said Mike Willoughby, CEO of PFSweb. “Having
substantially completed our corporate restructuring work and the
payment of our special dividend in 2022, we are focused on
supporting the continued growth of our business by maintaining a
reasonable level of operating cash. We believe the share repurchase
program provides additional flexibility to achieve this objective,
while maximizing the value we return to our shareholders.”
About PFSweb, Inc. PFS, the business unit of
PFSweb, Inc., is a premier eCommerce order fulfillment provider. We
facilitate each operational step of an eCommerce order in support
of DTC and B2B retail brands and specialize in health & beauty,
fashion & apparel, jewelry, and consumer packaged goods. Our
scalable solutions support customized pick/pack/ship services that
deliver on brand ethos with each order. A proven order management
platform, as well as high-touch customer care, reinforce our
operation. With 20+ years as an industry leader, PFS is the BPO of
choice for brand-centric companies and household brand names, such
as L’Oréal USA, Champion, Pandora, Shiseido Americas, Kendra Scott,
the United States Mint, and many more. The company is headquartered
in Irving, TX with additional locations around the globe. For more
information, visit www.pfscommerce.com or ir.pfsweb.com for
investor information.
Investor Relations:Cody Slach and Jackie
KeshnerGateway Group, Inc.1-949-574-3860PFSW@gatewayir.com
Pfsweb (NASDAQ:PFSW)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Pfsweb (NASDAQ:PFSW)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024