Tue, Apr. 14, 9:09 AM
- The furniture and home furnishing stores category in the March Retail Sales report outperformed most other businesses.
- Sales rose 1.4% M/M and 3.8% Y/Y during the month.
- The sector was on watch to see if there was any continued spillover impact from the West Coast slowdown.
- Furniture/home furnishing stocks: RH, PIR, HVT, BBBY, ETH, HOFT, OTCQB:BEST, W, LZB, OTCPK:LEFUF, BSET, KIRK, WSM.
- Retail Sales report (.pdf)
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.
Wed, Apr. 8, 4:21 PM
Wed, Apr. 8, 4:08 PM
Tue, Apr. 7, 5:35 PM
Wed, Apr. 1, 10:09 AM| 1 Comment
Fri, Mar. 20, 7:41 AM
Fri, Feb. 20, 9:52 PM
- Some false alarms earlier, but the AP reports (and union spokesmen and the PMA started confirming) that agreement has been reached with West Coast dockworkers.
- The deal would end a nine-month negotiation that has led to significant slowdowns at 29 West Coast U.S. ports. Labor Secretary Thomas Perez urged the PMA and union workers to come to agreement today.
- The contract still needs union ratification.
- Affected furniture stocks: RH, PIR, HVT, BBBY, ETH, HOFT, OTCQB:BEST, W, LZB, OTCPK:LEFUF, BSET.
- Apparel stocks: KATE, ANN, LULU, PVH, VNCE, CRI, UA, HBI, VFC, COLM, GIL, SQBG, JCP, KSS, DDS, M, JWN, ARO, AEO, ANF, WTSL, TLYS, CACH, ZUMZ, PSUN, EXPR, BKE, GIII, SQBG, HBI, VRA, ICON, SHOO, BWS, PERY, DXLG, BONT, GES, URBN, RL,GIL, NKE, OXM, HBI, VNCE, PERY, ICON, FL.
- Previous coverage of the slowdown
Tue, Feb. 17, 12:53 PM
- The furniture market is seeing some disruption as the West Coast port slowdown continues.
- A stalled pace of imports is impacting wholesale pricing for companies relying on suppliers that ship to ports in California, Oregon, and Washington.
- Even companies without a heavy reliance on Asian imports are feeling a supply chain shock.
- Previously: West Coast port slowdown continues (Feb. 16 2015)
- Related stocks: RH, PIR, HVT, BBBY, ETH, HOFT, OTCQB:BEST, W, LZB, OTCPK:LEFUF, BSET.
Thu, Feb. 12, 11:01 AM
- Pier 1 Imports (PIR -3%) is down again on high volume as confidence in the retailer remains shaky following its bungled Q4 report.
- Though valuation on Pier 1 is now at a level below that of its sector peers, management's inability to issue on-target guidance remains a concern for some.
- Previously: Pier 1 -31.1% on FY15 warning; CFO retires (Feb. 10 2015)
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.
Fri, Jan. 9, 8:16 AM
- Credit Suisse upgrades Pier 1 Imports (NYSE:PIR) to an Outperform rating from Neutral.
- The investment firm boost its price target on the retailer to $21 from $15.
- Credit Suisse note: "We see another 30% potential upside if the company can continue to execute on the plan it has laid out, which includes stabilizing retail margins and starting to leverage their significant online investments."
- The retailer threw in a 8.2% comp for December.
- Shares of PIR are already up 8% this week before CS weighed in.
PIR vs. ETF Alternatives
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.
Other News & PR