Clothing maker I.C. Isaacs moves to bolster share price with buyback

I.C. Isaacs & Co., an apparel manufacturing company headquartered in Baltimore, MD, has reacquired more than 870,000 shares of its own stock for $3 million. The purchase has enabled the firm to enhance its stockholdings by another 10%. The stock repurchase program is part of the efforts of the apparel production firm to correct the perceived undervaluation of I.C. Isaacs shares of stock, according to Robert J. Arnot, the company's chairman and co-chief executive officer. Arnot also maintained that the move reflects the firm's commitment and confidence on its product line.