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Pier 1 3Q results down from prior year, company still pleased
FORT WORTH, Texas - Pier 1 Imports reported a third-quarter comparable-store sales increase of 10.2% versus last year’s increase of 13.7% and net income of $21 million, or 18 cents per share, compared with last year’s third quarter net income of $38.8 million, or 37 cents per share.
Alex Smith, president and CEO, commented, “With sales and margins exceeding our expectations and the overall leveraging of expenses, we are reporting net income for our fifth consecutive quarter.”
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A social solution to hunger
Walmart turned to Facebook to spread awareness of hunger with an innovative initiative to determine how $1.5 million in grant money will be divvied up among 100 U.S. cities, but the social media effort is ending soon and Walmart is encouraging last minute “likes” as the New Years Day deadline approaches.