Clothestime Extends Stock Repurchase Deadline

Clothestime Inc. said it has extended its previously announced stock repurchase program through Dec. 31. The extension will enable the company to purchase up to 500,000 shares for cash in open market and privately negotiated transactions. Companies typically repurchase their shares when their directors believe the stock price has fallen below the actual per-share worth of the company. Clothestime common stock closed Friday at $4.875 a share in Nasdaq trading, down 25 cents for the day. Shares have traded as high as $10.125 in the past year.