Margins sink at Pier 1 Imports

|About: Pier 1 Imports, Inc. (PIR)|By:, SA News Editor

Pier 1 Imports (NYSE:PIR) is down another 5.83% to $0.58 after posting a wider loss in Q1 than anticipated.

Gross margin plummeted to 25.9% of sales vs. 37.0% a year ago and 31.8% consensus. Management blamed "execution" issues once again.

The company recorded an adjusted EBITDA loss of $52M for the quarter.

Previously: Pier 1 Imports misses on revenue (April 17)

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