REX Stores (RSC): The next BEST BUY? Message Board

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Non-Tech : REX Stores (RSC): The next BEST BUY?

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To: Kevin Michael who wrote ()	1/12/2000 8:15:00 AM
From: dper	Read Replies (1) of 24

Wednesday January 12, 7:51 am Eastern Time Rex Stores authorizes repurchase up to 1 mln shrs DAYTON, Ohio, Jan 12 (Reuters) - REX Stores Corp. (NYSE:RSC - news), a consumer electronics retailer said Wednesday it has authorized the purchase of up to 1.0 million shares of its common stock. Dayton, Ohio-based Rex said the buyback authorization included prior authorization for share repurchase. The company currently has about 9.2 million shares outstanding. Shares of Rex, which operates 239 stores in 35 U.S. states, closed off 1 at 13-3/4 on Jan. 11 on the New York Stock Exchange. The company's shares lost about 48 percent on Jan. 6 after it announced that day that its same-store sale figures rose 1 percent for November and December last year compared to the same period in 1998.

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