Pier 1 same-store sales down 1.7%

September 2008
Furniture/Today;9/8/2008, Vol. 33 Issue 2, p42
Trade Publication
The article reports on the sales down of Pier 1 Imports Inc. on its fiscal second quarter after ratios were balanced by lower average ticket. The company said they expect a $15 million to $17 million loss in the quarter. Alex Smith, chief executive officer (CEO) of the company believes that margins were below expectations because the company needs deeper markdowns but they feel good about the levels and complexion of their inventory in spite of the challenges of the current retail environment.


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