TITLE

Pier I loses $58.7M in 4Q

AUTHOR(S)
Engel, Clint
PUB. DATE
April 2007
SOURCE
Furniture/Today;4/16/2007, Vol. 31 Issue 31, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
24732157

 

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