Pier 1 Sees Large Profit Drop

Hogsett, Don
December 2004
Home Textiles Today;12/20/2004, Vol. 26 Issue 16, p15
Trade Publication
The article reports on the financial performance of Pier 1 Imports Inc. Sharply eroding margins and sliding same-store sales hurt the company, which has resulted in low profits for the company. The third quarter profits at Pier 1 Imports Inc. plummeted 39.5 percent to 419.5 million from 432.2 million last years. The data also reveals that buoyed by continued expansion, overall sales at the home decorating specialist inched up 1.1 percent to $482.4 million a year ago. In a marquee change, the company changed the name of its Cargokids unit to Pier 1 kids.


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