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)
Now read: Bed Bath & Beyond: Not Worth The Risk »
Subscribe for full text news in your inbox