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08/30/2012

Second-quarter sales increase at Pier 1 Imports

Pier 1 Imports said today that comparable-store sales — at stores open at least a year, an industry  benchmark — increased by 6.7 percent in its second quarter ended Aug. 25, and total sales increased 8.3 percent to $368 million.


The Fort Worth-based retailer expects earnings per share to be 19 cents, non-GAAP, excluding an accounting item for reversal of accrued interest. The company will release second-quarter results on Sept. 13.

In a press release, Alex W. Smith, President and Chief Executive Officer, said:

“We are very pleased with our profitable sales growth this quarter, which reflects strong execution across all aspects of the organization. Our stores have transitioned from summer to fall and customers have responded favorably to our new assortments.”

“We are delighted with the highly successful, on-time launch of our new e-Commerce enabled website, Pier1.com, in late July. The new site includes direct-to-customer shipping, a full redesign, enhanced functionality and new features, and has met with positive response from our customers. The continued development and expansion of our e-Commerce business will be an important part of our growth strategy going forward. We look forward to discussing our second quarter results and providing a general business update during our upcoming conference call.”

 

-- Steve Kaskovich

 

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