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Pier 1 Imports Posts Loss as Stores Close

Last post 06-20-2008 12:35 AM by salescatcher. 2 replies.
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  • 06-19-2008 7:05 AM

    Pier 1 Imports Posts Loss as Stores Close

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    Home furnishings retailer Pier 1 Imports reported a quarterly loss on Thursday as store closures and lower traffic in March and April hurt sales.

    The loss came to $32.8 million, or 37 cents a share, for the first quarter ended on May 31, compared with a year-earlier loss of $56.4 million, or 64 cents a share.

    Pier 1 offered to buy fellow furnishings retailer Cost Plus for about $88.4 million in stock earlier this month, but the operator of Cost Plus World Markets rejected the bid this week, saying it was not attractive financially or strategically.

  • 06-19-2008 11:23 PM In reply to

    Re: Pier 1 Imports Posts Loss as Stores Close

    Reply

    Thanks for the info.

  • 06-20-2008 12:35 AM In reply to

    Re: Pier 1 Imports Posts Loss as Stores Close

    Reply

     I would think that if you pay attention to business news, you would be smart enough to get out a day or two before....
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