Pier 1 posts loss

Engel, Clint
September 2008
Furniture/Today;9/22/2008, Vol. 33 Issue 4, p1
Trade Publication
The article reports on the financial performance of Texas-based furniture importer Pier 1 Imports for the second quarter of its 2007-2008 fiscal year. According to Pier 1's president Alex Smith, Pier 1 posted a net loss of $30.2 million and will withdraw its earnings announcement for the year due to economic uncertainties. Among the factors for reduced earnings are the economic downturn and the firm's mistake in marking down clearance goods too quickly.


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