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Yesterday, 11:46 AM
- There's some nervous trading on stocks associated with consumers spending money on their houses. Today's macroeconomic news and stock market decline are cutting into confidence over consumer spending patterns.
- Pier 1 Imports (PIR -7.9%), Mattress Firm (MFRM -3.1%), Tile Shop (TTS -2.9%), Lumber Liquidators (LL -5.8%), Restoration Hardware (RH -3.6%), Bed Bath & Beyond (BBBY -2.5%), La-Z-Boy (LZB -3%), Kirkland's (KIRK -2.3%), and Williams-Sonoma (WSM -2.5%) are all lower than broad market averages.
- Lowe's (LOW -1.5%) and Home Depot (HD -1.2%) are showing a milder loss.
Wed, Jan. 27, 7:51 AM
- KeyBanc Capital is taking a negative view of the home furnishings and merchandise sector.
- Haverty Furniture (NYSE:HVT) is downgraded to Sector Weight from Overweight.
- Pier 1 Imports (NYSE:PIR) is taken to Sector Weight from Overweight.
- Bed Bath & Beyond (NASDAQ:BBBY) is set at Underweight after being slotted at Sector Weight previously. BBBY -2.72% premarket to $42.86.
Thu, Jan. 21, 10:34 AM
- Stocks tied to consumers pouring money into their houses are ripping gains today. The rally includes home improvement, home building, and home furnishings stocks.
- Gainers include Profire Energy (PFIE +10.1%), Pier 1 Imports (PIR +3.9%), Lumber Liquidators (LL +3.3%), Home Depot (HD +3.9%), Restoration Hardware (RH +2.7%), Bed Bath & Beyond (BBBY +1.7%), Haverty Furniture (HVT +1.1%), Beacon Roofing (BECN +2.1%), Lowe's (LOW +2.4%), Kirkland's (KIRK +3%) and Sears Hometown and Outlet Stores (SHOS +1.9%).
Tue, Jan. 19, 2:45 PM
- A major push by IKEA to increase online sales could have a ripple effect across the furniture industry.
- Home24 CEO Domenico Cipolla thinks IKEA's reach will help it familiarize consumers with the process of buying furniture online. The development could help his firm and other Internet-based sellers.
- On the brick-and-mortar side, analysts warn as IKEA moves more items online some major chains will see pricing pressure.
- IKEA is also testing a smaller-store format which leans on selling online fulfillment.
- Related stocks: LZB, PIR, RH, TGT, ETH, WSM, HVT.
Thu, Jan. 14, 8:24 AM
- Consumer discretionary stocks on watch today include Ethan Allen (NYSE:ETH), La-Z-Boy (NYSE:LZB), Pier 1 Imports (NYSE:PIR), Kirkland's (NASDAQ:KIRK), Select Comfort (NASDAQ:SCSS), and Mattress Firm (NASDAQ:MFRM).
- The home furnishing/home furniture group is typically seen as benefiting from low gas prices and steady employment trends, but were pummeled yesterday with 4% to 5% losses.
- The broad consumer discretionary sector has its worst day since last August with the Consumer Discretionary Select Sector SPDR ETF (NYSEARCA:XLP) down 3.37%.
- ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR, PEZ, PSCD, BITE.
Dec. 29, 2015, 12:11 PM
- A report from MasterCard on a 7.9% increase in holiday spending is creating some optimism that retailers selling in certain categories could surprise with Q4 earnings.
- Double-digit sales gains were recorded for furniture spending (RH, PIR, HVT, BBBY, ETH, HOFT, OTCPK:BEST, W, LZB, OTCPK:LEFUF, BSET, WSM, RH, KIRK) and women's apparel (NWY, LB, ASNA) while the men's apparel and electronics categories were left behind.
- A late sales rush is also usually a positive sign for Signet (NYSE:SIG) and Tiffany (NYSE:TIF).
- Previously: Late rush may have turned holiday season around (Dec. 28)
Dec. 21, 2015, 2:18 PM
- Pier 1 Imports (NYSE:PIR) tracks higher after crumbling to a 52-week low last week when guidance disappointed.
- Although a number of investment firms lowered their price targets on the retailer due to the earnings update, the consensus PT still indicates some upside from Pier 1's current share price.
- Pier 1 is up 9.8% today to $5.27 on above-average volume.
- Previously: Pier 1 down 14.3% after FQ3 sales miss, soft FQ4 guidance (Dec. 16 2015)
Dec. 17, 2015, 12:45 PM
Dec. 17, 2015, 9:20 AM
Dec. 16, 2015, 5:46 PM
- In addition to missing FQ3 sales estimates (while slightly beating on EPS), Pier 1 Imports (NYSE:PIR) is guiding for FQ4 EPS of $0.18-$0.22, below a $0.36 consensus. Same-store sales (inc. e-commerce) are expected to drop 2%-4% Y/Y, after dropping 0.7% in FQ3.
- CEO Alex W. Smith: "Our sales slowed in the third quarter, primarily reflecting soft store traffic ... E-Commerce sales continued to demonstrate strong growth and represented approximately 16% of total sales in the period ... strict expense control enabled us to deliver earnings per share within our guidance range. Additionally, we made further progress toward bringing our inventories in line, keeping us on track to close fiscal 2016 with inventory levels down approximately 10 percent from the prior year."
- Gross margin fell to 37.8% from 42.3% a year ago. SG&A spend fell 9% Y/Y to $146.1M. $23.9M was spent to buy back 3.3M shares.
- Shares have tumbled to $5.10 after hours.
- Pier 1's FQ3 results, earnings release
Dec. 16, 2015, 5:38 PM
Dec. 16, 2015, 4:17 PM
Dec. 15, 2015, 5:35 PM
Dec. 10, 2015, 10:49 AM
- The winners of the Seeking Alpha retail contest were announced earlier today.
- 1st place was taken down by Ariana Research with a bullish thesis on Canadian store chain Reitmans (OTCPK:RTMAF).
- 2nd place landed with Ian Bezek for his rationale on why PriceSmart (NASDAQ:PSMT) will fall.
- 3rd place was claimed by Spy Hill Research for a bearish article on Loblaw Companies (OTCPK:LBLCF).
- 4th place went to Shaun Currie with a short take on Ross Stores (NASDAQ:ROST).
- Pro subscribers can access the full articles.
- Other long ideas on the retail sector which made the list of finalists included positive spins on Biglari Holdings (NYSE:BH), Pier One Imports (NYSE:PIR), Ralph Lauren (NYSE:RL), amd Buckle (NYSE:BKE).
Nov. 9, 2015, 7:53 AM
- UBS initiates coverage on Pier 1 Imports (NYSE:PIR) with a Sell rating.
- The investment firm thinks margins at Pier 1 will be pressured by a higher mix of e-commerce sales, while top line growth will be tougher with new competitors on the scene.
- Shares are assigned a price target of $7.00 vs. Friday's close of $8.19.
Oct. 13, 2015, 10:54 AM
- ICSC forecasts holiday retail sales will increase 3.3%. The mark is lower than the estimates from the NRF (+3.7%) and FTI Consulting (+3.9%).
- The research firm sees the furniture/home furnishings category (BSET, PIR, WSM, ETH, KIRK, HOFT, RH, KIRK) leading the way with sales growth of 4.9%.
- The estimates for the electronics and appliance stores category (BBY, CONN, HGG, WHR) is on the sluggish end with an 1.1% gain seen.
- The average yearly gain in holiday retail sales over the last ten years is +1.8%.
Pier 1 Imports Inc is a specialty retailer of imported decorative home furnishings and gifts in the North America. It conducts business as one operating segment and operates stores in the United States and Canada under the name Pier 1 Imports.
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