Pier 1 loses $56.4 million

Engel, Clint
June 2007
Furniture/Today;6/25/2007, Vol. 31 Issue 41, p1
Trade Publication
The article reports that Pier 1 Imports Inc. has lost $56.4 million in its fiscal first quarter in 2007, and will close 40 more stores than announced earlier as part of a restructuring. The company will also exist its e-commerce and catalog businesses. The net loss for the period ended June 2 compares with a $23.2 million net loss for the first quarter in 2006. Sales were down 5.2% to $356.4 million and same-store sales plummeted 5.4%.


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