Content about Pier 1 Imports

June 19, 2014

Promotions took their toll on profitability at Pier Imports Inc. during the first quarter of fiscal 2015.

Fort Worth, Texas – Promotions took their toll on profitability at Pier Imports Inc. during the first quarter of fiscal 2015. The company reduced its earnings guidance for fiscal 2015.

Net earnings fell 25% to $15.1 million from $20.3 million in the same quarter of fiscal 2014.

Total sales for the first quarter were $419.1 million, a 6.1% increase from $394.9 million in the year-ago quarter. Same-store sales increased 6.3%, attributable to increases in total brand traffic, conversion and higher average ticket.

May 1, 2014

Pier 1 Imports (U.S.) Inc., a subsidiary of Pier 1 Imports Inc., has completed the amendment of its $350 million senior secured revolving credit facility and syndicated and closed a previously announced $200 million seven-year senior secured term loan B.

Fort Worth, Texas – Pier 1 Imports (U.S.) Inc., a subsidiary of Pier 1 Imports Inc., has completed the amendment of its $350 million senior secured revolving credit facility and syndicated and closed a previously announced $200 million seven-year senior secured term loan B.

Proceeds from the $200 million term loan are intended to be used for general corporate purposes, including, among other things, working capital needs, capital expenditures, cash dividends and repurchases of the company’s common stock.

April 22, 2014

Pier 1 Imports is facing criticism this week for its policies regarding leave for pregnant workers.

San Jose, Calif. -- Pier 1 Imports is facing criticism this week for its policies regarding leave for pregnant workers. Nearly 50,000 people have signed a petition from anti-sexism group UltraViolet to demand Pier 1 stop what the petition says is discrimination against pregnant workers.

April 10, 2014

Snowstorms that affected as many as two-thirds of the selling days in the fourth quarter of fiscal 2014 in some key markets dampened financial performance at Pier 1 Imports Inc.

Fort Worth, Texas – Snowstorms that affected as many as two-thirds of the selling days in the fourth quarter of fiscal 2014 in some key markets dampened financial performance at Pier 1 Imports Inc.

Compared to the same period the prior year, net income fell 31% to $42.6 million from $61.7 million. Total sales fell 6% to $515.8 million from $551.6 million and same-store sales dropped 4.6%.

December 19, 2013

Pier 1 Imports boosted net income and sales during the third quarter of fiscal 2014 compared to the same period in the prior year, partially aided by strong Thanksgiving weekend performance.

Fort Worth, Texas – Pier 1 Imports boosted net income and sales during the third quarter of fiscal 2014 compared to the same period in the prior year, partially aided by strong Thanksgiving weekend performance. Net income totaled $26.8 million, up 13% from $23.7 million.

Total sales for the third quarter were $465.5 million, a 9.6% increase from $424.5 million in the year-ago quarter.

Same-store sales rose 6.9%, primarily attributable to increases in conversion rate and higher average ticket.

October 18, 2013

Pier 1 Imports announced that its board of directors has authorized a new $200 million share repurchase program.

Fort Worth, Texas -- Pier 1 Imports announced that its board of directors has authorized a new $200 million share repurchase program.

The new share repurchase program is effective immediately and authorizes the repurchase of up to $200 million of the company’s common stock in open market or private transactions. As of October 17, 2013, Pier I had approximately 103.8 million shares of common stock outstanding.
 

September 23, 2013

Pier 1 Imports has named Eric Hunter as executive VP of marketing, responsible for the company’s brand image and integrated marketing efforts.

Fort Worth, Texas -- Pier 1 Imports has named Eric Hunter as executive VP of marketing, responsible for the company’s brand image and integrated marketing efforts. He most recently served as senior VP of marketing and acting chief marketing officer for J.C. Penney Co., where he led strategy, research, creative, media, customer relationship management and digital direction for the JCP enterprise brand and all JCP-owned brands.

June 20, 2013

Pier 1 Imports announced a 14% jump in fiscal first-quarter earnings on Thursday and upgraded its full-year guidance.

Fort Worth, Texas -- Pier 1 Imports announced a 14% jump in fiscal first-quarter earnings on Thursday and upgraded its full-year guidance.

The company reported net income of $20.3 million for the first quarter ended June 1, compared to $17.8 million for the year ago period.

Total sales were $395 million, a 9.3% increase from $361 million in the prior year quarter. Same-store sales rose 5.9% on stronger store traffic and higher average tickets.

June 20, 2013

Pier 1 Imports announced a 14% jump in fiscal first-quarter earnings on Thursday and upgraded its full-year guidance.

Fort Worth, Texas -- Pier 1 Imports announced a 14% jump in fiscal first-quarter earnings on Thursday and upgraded its full-year guidance.

The company reported net income of $20.3 million for the first quarter ended June 1, compared to $17.8 million for the year ago period.

Total sales were $395 million, a 9.3% increase from $361 million in the prior year quarter. Same-store sales rose 5.9% on stronger store traffic and higher average tickets.

December 19, 2012

On-demand e-commerce solution-provider Demandware said that Pier 1 Imports has delivered the initial phases of its omnichannel strategy, which includes its new e-commerce-enabled Pier1.com website (launched in July 2012), and its mobile commerce site, both of which are run on the Demandware Commerce platform.

Burlington, Mass. -- On-demand e-commerce solution-provider Demandware said Wednesday that Pier 1  Imports has delivered the initial phases of its omnichannel strategy, which includes its new e-commerce-enabled Pier1.com website (launched in July 2012), and its mobile commerce site, both of which are run on the Demandware Commerce platform.

Pier 1 Imports now benefits from an enterprise-class, software-as-a-service platform that serves as the digital commerce backbone to connect consumers to its brand regardless of location, device or channel.

December 13, 2012

Pier 1 Imports reported that net income for the third quarter rose 3% to $23.7 million, compared with $23 million in the year-ago period.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the third quarter rose 3% to $23.7 million, compared with $23 million in the year-ago period. Results matched Wall Street expectations.

Revenue rose 11% to $424.5 million from $382.7 million, beating analysts’ expectations of $422.2 million in revenue. Same-store sales increased 7.9%.

December 13, 2012

Pier 1 Imports reported that net income for the third quarter rose 3% to $23.7 million, compared with $23 million in the year-ago period.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the third quarter rose 3% to $23.7 million, compared with $23 million in the year-ago period. Results matched Wall Street expectations.

Revenue rose 11% to $424.5 million from $382.7 million, beating analysts’ expectations of $422.2 million in revenue. Same-store sales increased 7.9%.

September 13, 2012

Pier 1 Imports reported that net income for the quarter ended Aug. 27 surged to $26.2 million from $16.6 million last year, prompting the home goods retailer to raise its full-year adjusted profit forecast for the second time in three months.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the quarter ended Aug. 27 surged to $26.2 million from $16.6 million last year, prompting the home goods retailer to raise its full-year adjusted profit forecast for the second time in three months.

Total sales increased 8.3% to $367.6 million from $339.6 million in the year-ago period, edging Wall Street’s expected $367.2 million in revenue. Same-store sales rose 6.7% on top of last year’s 10.8% gain.

September 13, 2012

Pier 1 Imports reported that net income for the quarter ended Aug. 27 surged to $26.2 million from $16.6 million last year, prompting the home goods retailer to raise its full-year adjusted profit forecast for the second time in three months.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the quarter ended Aug. 27 surged to $26.2 million from $16.6 million last year, prompting the home goods retailer to raise its full-year adjusted profit forecast for the second time in three months.

Total sales increased 8.3% to $367.6 million from $339.6 million in the year-ago period, edging Wall Street’s expected $367.2 million in revenue. Same-store sales rose 6.7% on top of last year’s 10.8% gain.

August 23, 2012

Pier 1 Imports said it has launched a fully redesigned website, Pier1.com, with a lineup of new features, including “Pier 1 To-You” allowing users to buy products online and have them shipped to any location in the continental United States.

Fort Worth, Texas -- Pier 1 Imports said Thursday it has launched a fully redesigned website, Pier1.com, with a lineup of new features, including “Pier 1 To-You” allowing users to buy products online and have them shipped to any location in the continental United States.

Additional options continue to include “Pier 1 To-Go,” which launched in June 2011 and allows customers to pay for selected product offerings online and pick them up in-store with no shipping charges.

August 23, 2012

Pier 1 Imports said it has launched a fully redesigned website, Pier1.com, with a lineup of new features, including “Pier 1 To-You” allowing users to buy products online and have them shipped to any location in the continental United States.

Fort Worth, Texas -- Pier 1 Imports said Thursday it has launched a fully redesigned website, Pier1.com, with a lineup of new features, including “Pier 1 To-You” allowing users to buy products online and have them shipped to any location in the continental United States.

Additional options continue to include “Pier 1 To-Go,” which launched in June 2011 and allows customers to pay for selected product offerings online and pick them up in-store with no shipping charges.

June 21, 2012

A heat wave washed over Las Vegas just in time for the International Council of Shopping Centers’ annual RECon event May 20-23 — and the mood inside the Las Vegas Convention Center was just as elevated.

“I am very bullish on this year’s RECon,” said Andy Graiser, co-president of A&G Realty Partners, Melville, N.Y. “Growth is becoming evident in most all categories, and it’s smart growth.”

June 14, 2012

Pier 1 Imports reported that net income for the quarter ended May 26 rose to $17.8 million, from $14.1 million in the year-ago period.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the quarter ended May 26 rose to $17.8 million, from $14.1 million in the year-ago period.

Sales increased 7.9% to $361.1 million from $334.6 million last year, and same-store sales rose 7.2% during the first quarter on top of last year’s 10.2% gain.

April 5, 2012

Pier 1 Imports Inc. said that its fiscal fourth-quarter profit more than doubled on increased store traffic and a one-time tax benefit that boosted its bottom line.

Fort Worth, Texas -- Pier 1 Imports Inc. on Thursday said that its fiscal fourth-quarter profit more than doubled on increased store traffic and a one-time tax benefit that boosted its bottom line. The chain also announced a new three-year growth plan that includes store updates and investments in technology.

March 2, 2012

Pier 1 Imports Inc. said that its total revenue for the fourth quarter, ended Feb. 25, increased a better-than-expected 11.8% to $477 million.

Fort Worth, Texas -- Pier 1 Imports Inc. said that its total revenue for the fourth quarter, ended Feb. 25, increased a better-than-expected 11.8% to $477 million. Same-store sales rose 10.3%.

The chain said total revenue for the fiscal year ended Feb. 25 climbed 9.8% to $1.53 billion.

The home décor retailer is upbeat about its first-quarter prospects.

January 5, 2012

Pier 1 Imports Inc. said its same-store sales climbed 11.3% in December, driven by a greater number of shoppers who spent more on each visit.

Fort Worth, Texas -- Pier 1 Imports Inc. said Thursday its same-store sales climbed 11.3% in December, driven by a greater number of shoppers who spent more on each visit. The gain topped the 10.3% rise in the same month a year ago.

The chain said sales remained strong throughout the month, including the week after Christmas, in every region.

October 14, 2011

Pier 1 Imports plans to buy back up to $100 million of its common stock.

Fort Worth, Texas -- Pier 1 Imports plans to buy back up to $100 million of its common stock.

The chain said it had about 109.6 million outstanding shares as of Friday.
 

October 14, 2011

Pier 1 Imports plans to buy back up to $100 million of its common stock.

Fort Worth, Texas -- Pier 1 Imports plans to buy back up to $100 million of its common stock.

The chain said it had about 109.6 million outstanding shares as of Friday.
 

October 6, 2011

Pier 1 Imports said it has, through a subsidiary, signed a new, long-term private-label credit card agreement with Alliance Data.

Fort Worth, Texas -- Pier 1 Imports said Thursday it has, through a subsidiary, signed a new, long-term private-label credit card agreement with Alliance Data.

Under terms of the new agreement, Alliance Data, through its bank subsidiary, will provide end-to-end private-label credit card services from account acquisition to multichannel marketing and customer service for Pier 1 Imports.

October 6, 2011

Pier 1 Imports said it has, through a subsidiary, signed a new, long-term private-label credit card agreement with Alliance Data.

Fort Worth, Texas -- Pier 1 Imports said Thursday it has, through a subsidiary, signed a new, long-term private-label credit card agreement with Alliance Data.

Under terms of the new agreement, Alliance Data, through its bank subsidiary, will provide end-to-end private-label credit card services from account acquisition to multichannel marketing and customer service for Pier 1 Imports.