Tue, Sep. 29, 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)
Fri, Sep. 25, 9:12 AM
Thu, Sep. 24, 5:37 PM
Thu, Sep. 24, 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.
Thu, Jun. 18, 9:22 AM
Wed, Jun. 17, 5:37 PM
Thu, Apr. 9, 12:45 PM
Wed, Apr. 8, 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.
Fri, Mar. 20, 7:41 AM
Wed, Feb. 11, 12:45 PM
Wed, Feb. 11, 9:13 AM
Tue, Feb. 10, 5:39 PM
Tue, Feb. 10, 4:55 PM
- Pier 1's (NYSE:PIR) January comparable store sales rose 5.7% Y/Y, "well below " the company's expectations. Due to the shortfall, and "unplanned supply chain expenses," the company now expects FY15 (ends Feb. '15) EPS of $0.80-$0.83, below prior guidance of $0.95-$1.05 and a $1.00 consensus.
- FY15 comparable sales guidance has been lowered to 5% from mid-to-high single digit growth, and gross margin guidance to 40.2% from 40.5%-41.5%. Year-end inventories are expected to be at $480M.
- The company is now taking "a more cautious view" for February sales, and also states some of the unplanned supply chain expenses "will be ongoing" through the first quarter of FY16. Full FQ4 results arrive on April 8.
- CFO Cary Turner is retiring. SVP of planning Laura Coffey will serve as interim CFO.
- Shares have plunged to $11.70 AH.
Thu, Jan. 8, 9:15 AM
Dec. 19, 2014, 10:05 AM
- Pier 1 Imports (PIR +12.2%) trades higher despite missing analyst estimates with its FQ3 report.
- Favorable comments from management on the Thanksgiving/Black Friday sales event and e-commerce momentum appear to be swaying investors.
- "We finished November on a high note buoyed by the strength of Thanksgiving weekend," said CFO Cary Turner.
- Earnings call transcript
Dec. 19, 2014, 9:11 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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