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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.
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
Sep. 29, 2015, 3:28 PM
- Shares of Pier 1 Imports (PIR -9.4%) decline sharply to etch out new 52-week lows.
- The company's weak Q2 earnings report and cut in guidance last week are still weighing heavily on trading sentiment.
- SA contributor Vince Martin has a breakdown on the collapse of Pier. He thinks the home furniture retailer could be the target of an activist investor if the stock remains under pressure.
- Previously: Pier 1 -8% as earnings disappoint, guidance is cut again (Sept. 24)
Sep. 25, 2015, 9:12 AM
Sep. 24, 2015, 5:37 PM
Sep. 24, 2015, 4:58 PM
- Pier 1 Imports (NYSE:PIR) -7.8% AH, tumbling to five-year lows, after missing FQ2 earnings and revenue estimates, and guiding FQ3 and FY 2016 earnings below consensus.
- PIR now sees Q3 EPS of $0.10-$0.14 vs. $0.23 analyst consensus estimate, saying margins for the quarter were hurt by increased promotional and clearance activity; Q3 comps rose 2.5%, or 3.8% on a constant currency basis.
- PIR also sees EPS for the fiscal year ending February 2016 of $0.56-$0.64 vs. earlier guidance of $0.83-$0.87 and $0.82 consensus.
- It is the company's seventh downside guidance given in less than two years.
Jun. 18, 2015, 9:22 AM
Jun. 17, 2015, 5:37 PM
Apr. 9, 2015, 12:45 PM
Apr. 8, 2015, 5:51 PM
- Pier 1 Imports (NYSE:PIR) reports comparable sales rose 5.7% in FQ4.
- E-commerce sales accounted for 11% of the company's total sales tally during the quarter.
- Merchandise margin -100 bps to 55.6% as higher supply chains costs factored in.
- SG&A expenses as a percentage of sales increased 140 bps to 27.4%.
- Pier 1 says it plans to close 100 stores over the next three years as part of an optimization plan.
- FY16 guidance: The company guides for a mid single-digit comp. EPS of $0.83-$0.87 vs $0.90 consensus estimate.
- Previously: Pier 1 Imports beats by $0.03, misses on revenue
- PIR +3.64% after hours.
Mar. 20, 2015, 7:41 AM
Feb. 11, 2015, 12:45 PM
Feb. 11, 2015, 9:13 AM
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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