Pier I loses $58.7M in 4Q

Engel, Clint
April 2007
Furniture/Today;4/16/2007, Vol. 31 Issue 31, p1
Trade Publication
The article reports that Fort Worth, Texas-based specialty furniture retailer Pier 1 Imports posted a loss of $58.7 million in its fourth quarter ended March 1, 2007. Pier 1 Chief Executive Alex Smith said that his firm will close about 60 stores in 2007 to reduce costs. He said that the firm's losses were due to failure to adapt merchandise and to streamline operations. His profitability strategies include reduction of supply chain costs and creation of an effective marketing plan.


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