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.
Thu, Jan. 8, 9:15 AM
Thu, Jan. 8, 6:47 AM
Tue, Jan. 6, 11:29 AM
- Specialty retail is set up to see a strong year, according to Jefferies analyst Randal Konik.
- The sector enters the year in a better position than in 2014 with inventory clean and the macroeconomic backdrop looking supportive.
- Comp sales will lag a string of weak quarters and lower cotton prices will filter down to the bottom lines of the group, says Konik.
- Specialty retailers (partial list): EXPR, ZUMZ, PSUN, ARO, AEO, ANF, CACH, CHS, NWY, BEBE, ANN, CBK, GPS, GES, PIR, BBBY, TCS, LE, VRA.
- Related ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, PMR, RCD
Mon, Jan. 5, 8:50 AM
- The PetSmart LBO strategy could be utilized again in the retail sector amid the current low interest rate environment, note analysts.
- Bloomberg picks some top candidates to see a LBO play this year.
- GameStop (NYSE:GME): Valuation has been driven down to a level that could attract P-E firms.
- Bed Bath & Beyond (NASDAQ:BBBY): Spinoff opportunities and a lagging stock price make BBBY a LBO natural, note sector watchers.
- Pier 1 Imports (NYSE:PIR): A buyer would have plenty of opportunities to cut costs and set a turnaround strategy.
- Dick's Sporting Goods (NYSE:DKS): Perhaps the surprise in the bunch, but analysts see upside potential in a LBO scenario as a shift in focus is enacted.
- Previous on LBOs in retail: Retail trends to watch
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
Dec. 18, 2014, 5:39 PM
Dec. 18, 2014, 4:07 PM
Dec. 17, 2014, 5:35 PM
Nov. 20, 2014, 3:24 PM
- Home furnishing stocks stocks are in rally mode after Kirkland's (KIRK +22.9%) and Williams-Sonoma (WSM +8.3%) both top expectations.
- The development follows strong reports from Home Depot and Lowe's which also showed strong demand for home products.
- Gainers: Restoration Hardware (NYSE:RH) +6.4%, Pier 1 Imports (NYSE:PIR) +2.0%, Haverty Furniture (NYSE:HVT) +2.5%, Bed Bath & Beyond (NASDAQ:BBBY) +2.0%, Ethan Allen (NYSE:ETH) +2.9%.
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.
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