Pier 1 Imports: OK, What Now?
Discount Shopping: How About Pier 1 Imports?
Justin Hess • 10 Comments
Justin Hess • 10 Comments
Bailing On Pier 1 Imports
Vince Martin • 16 Comments
Vince Martin • 16 Comments
Thu, Jun. 30, 9:16 AM
Wed, Jun. 29, 4:44 PM
- Pier 1 Imports (PIR +4%) has slid 6.3% after hours after missing on profits and revenues and lowering guidance in its Q1 results.
- “Our first quarter sales were not as strong as we would have liked," says CEO Alex Smith; outdoor furniture was especially hit by internal and external pressures, and Pier 1 faces a challenging store traffic environment.
- Net sales fell 4.2% and comparable-store sales fell 2.5% (down 2.2% in constant currency). E-commerce made up 19% of Q1 net sales vs. 17% a year ago.
- The retailer now sees comparable sales growth between -1% and 1%, and net sales declines between 3% and 1%, for Q2 and the full year. Merchandise margin should be 56-57% of net sales and it plans $20M in marketing spend for Q2, it said.
- EPS for Q2 is forecast at -$0.06 to break-even (vs. consensus for break-even), and full-year EPS is seen at $0.32-$0.40 (below consensus for $0.44).
- Conference call to come at 5 p.m. ET.
- Press Release
Wed, Jun. 29, 4:30 PM
Wed, Jun. 29, 4:23 PM
Tue, Jun. 28, 5:35 PM
Wed, Jun. 22, 11:18 AM
Fri, Jun. 17, 10:03 AM
- Gap (GPS +3.7%) is back over $20 for the first time in over a month with some improved sentiment bubbling up over the retail sector.
- The retailer's +4.5% dividend yield may be luring in some buyers
- Other retail movers ahead of broad averages in early action include Nordstrom (JWN +2.3%), Tailored Brands (TLRD +3.6%), Pier 1 Imports (PIR +3.6%), Best Buy (BBY +2.8%), and DSW (DSW +2.5%). Perhaps it's coincidence, but all those companies boast a dividend yield of over 3%.
Thu, Apr. 14, 9:27 AM
- Pier 1 Imports (NYSE:PIR) is down sharply with FY17 guidance creating some anxiety with investors in early trading.
- The company sees EPS of $0.42 to $0.50 vs. $0.49 consensus, citing bottom-line pressure during the first half.
- Management also tipped off that about 20 store closures are anticipated for the current fiscal year.
- E-commerce is now up to 15% of all sales the retailer.
- PIR -9.67% premarket to $6.63 after shares had rallied into the earnings release.
- Now read Pier 1's Rally Should Be Ending Soon
Thu, Apr. 14, 9:25 AM
Wed, Apr. 13, 5:36 PM
Wed, Apr. 13, 4:25 PM
Wed, Apr. 13, 11:48 AM
- The retail sector is outperforming the broad market, despite a read on March retail sales that came in short of expectations.
- The S&P Retail ETF (NYSEARCA:XRT) is up 2.06% on the day.
- The retail stocks making the sharpest moves includes an oddball list of beat-up names and specialty firms such as Barnes & Noble (BKS +5.1%), Conn's (CONN +11.5%), Tailored Brands (TLRD +9.5%), Duluth Holdings (DLTH +5.9%), Sears Holdings (SHLD +6.8%), Pier 1 Imports (PIR +4.6%), and GameStop (GME +4.8%).
- Previously: Retail sales dive: Mall malaise again, building materials strong (April 13)
- Previously: March retail sales miss estimates, prior months revised higher (April 13)
Tue, Apr. 12, 5:35 PM
Fri, Apr. 8, 2:02 AM
- Deutsche Bank notes that while Pier 1 (NYSE:PIR) announced better-than-expected sales and in-line EPS ahead of yesterday's sell-side conference, it did not announce margins.
- "This is, and remains, our key sticking point on PIR.
- "We believe PIR can turn around its sales issues, but it has not shown the ability to do this on higher gross margins.
- "The question, then, is how much further did gross margins contract? We know that PIR had success in clearing seasonal holiday assortment, which would imply a drag to gross margins in the quarter.
- "One unknown, however, is buybacks. Recall that in 4Q14 PIR surprised the Street with a much larger than expected buyback. If this is the case, and it was in fact a larger than expected buyback that supported EPS, we believe the shares trade off as confidence in a merchandise margin turnaround further fades. But, and we noted this in our risk section several times, if PIR was somehow able to pick itself up and significantly out-perform a very difficult industry back drop and drive in line EPS on a more in line buyback assumption - implying margins not down much further than expected, we believe the stock further rallies significantly on that news, similar to the trend we discussed above."
- Firm remains bearish on PIR with a Sell rating and $4.75 price target, implying 26% downside.
- Now read A Few Thoughts Inspired By Saturday Shopping »
Fri, Mar. 11, 10:54 AM
- The solid week for specialty retail continues after a majority of earnings report come in ahead of expectations.
- Ulta Salon (ULTA +16%) and Party City (PRTY +7.1%) were the headliners, but a host of companies realized stronger pricing than anticipated during the quarter to help offset weak traffic trends.
- Retail sector movers include FTD Companies (FTD +6.1%), Pier 1 Imports (PIR +2.3%), Sally Beauty Holdings (SBH +2.4%), Five Below (FIVE +2%), Stein Mart (SMRT +5.7%), Buckle (BKE +2.5%), Urban Outfitters (URBN +2.2%), and Tilly's (TLYS +2.9%) .
Mon, Mar. 7, 9:11 AM
Pier 1 Imports, Inc. manufactures, markets and distributes home furnishings accessories. It directly imports merchandise from many countries, and sells decorative accessories, furniture, candles, housewares, gifts and seasonal products in its stores and through the company's website, Pier1.com.... More
Industry: Home Furnishing Stores
Country: United States
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