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Argus negative on Pier 1 Imports

Nov. 13, 2018 8:50 AM ETPier 1 Imports, Inc. (PIRRQ) StockPIRRQBy: Clark Schultz, SA News Editor13 Comments
  • Argus lowers Pier 1 Imports (PIR -5.5%) to a Sell rating after dropping loss estimate for both FY19 and FY20.
  • "PIR has historically had strong merchandise margins, but almost all of its products are discretionary, and their purchase can be deferred in difficult times. In addition, while PIR has many unique products, substitutes can be found at competitors ranging from Target and Pottery Barn to Bed Bath and Home Goods," writes Argus analyst John Eade.
  • Shares of Pier 1 Imports fell 5.5% yesterday and are down 62% YTD.

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