In case you're still in this stock:
Monday March 2, 2:41 pm Eastern Time
Company Press Release
NS Group, Inc. Announces Stock Buyback
NEWPORT, Ky.--(BUSINESS WIRE)--March 2, 1998--NS Group, Inc. (NYSE: NSS - news) announced today that it has purchased 167,900
shares of its common stock in open market transactions through the end of February, 1998. The purchases were made pursuant to the
authorization by the Company's Board of Directors to purchase up to one million shares of the Company's common stock during a twelve month
period expiring in December, 1998. The repurchased shares will be available to fund stock option plan requirements as well as for general
corporate purposes.
Clifford R. Borland, Chairman and Chief Executive Officer of NS Group, stated, ''We believe that, based on current market prices, our stock is
undervalued and is an attractive investment opportunity for the Company that will be accretive to earnings per share.''
NS Group, Inc. is a holding company that owns three operating subsidiaries: Newport Steel Corp., a manufacturer of welded tubular steel
products and hot roiled coils; Koppel Steel Corp., a manufacturer of seamless tubular steel products and special bar quality products; and
Imperial Adhesives, Inc., a manufacturer of industrial adhesives products. NS Group, Inc.'s common stock (symbol: NSS) is traded on the New
York Stock Exchange.
This report contains forward-looking information with respect to the Company's operations and beliefs. Actual results may differ from these
forward-looking statements due to numerous factors, including those discussed in the introductory paragraphs of Management's Discussion and
Analysis of Financial Condition and Results of Operations found in the Company's Annual Report on Form 10-K for its fiscal year ended Sept.
27, 1997.
Contact:
NS Group Inc., Newport
Clifford R. Borland, 606/292-6809 |
