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Decline of the in-store shopper hits Pier 1 Imports
Pier 1 Imports says it is still confident in its omnichannel strategy despite a mostly flat third quarter in which the company struggled with the same soft store traffic impacting many other retailers.
For the third quarter ended Nov. 28, the specialty retailer said same store sales decreased 0.7%. Total sales decreased 2.5% (a 1.4% decrease on a constant currency basis) to $472.5 million, compared to $484.5 million in the third quarter of fiscal 2015. Net income $10.92 million, or 13 cents a share, vs. a profit of $17.86 million, or 20 cents a share, a year ago.
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Din Tai Fung to open in Downtown Seattle
Seattle -- Madison Marquette announced that Din Tai Fung will open at Pacific Place located in downtown Seattle, in the summer of 2016. With only six U.S. restaurants, Din Tai Fung will be located in a 9,216 sq. ft. space on level four of the shopping center.
Din Tai Fung currently operates more than 100 locations worldwide with branches in Japan, the United States, South Korea, Singapore, China, Hong Kong, Indonesia, Malaysia, Australia, Thailand and most recently in Dubai.
