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05/31/2012

Fort Worth's Pier 1 says first-quarter sales up 7.2 percent in comparable stores

Pier 1 Imports said Thursday its first-quarter sales in comparable stores, those open at least a year, rose 7.2 percent on top of last year's 10.2 percent increase.

Pier 1 said it expected its quarterly gross prorift to be 41.6 percent of sales, compared to 40.1 percent in last year's quarter.

Pier 1 said it expected earnings per share to be 16 cents per share of common stock, compared to 12 cents last year.

- Scott Nishimura

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