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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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The impulse buy playbook: Breaking down the new rules of omnichannel
Social commerce is evolving, which means the omnichannel world is changing, too. Even the mere definition of omnichannel is in flux as the lines between commerce and communication blur and new platforms proliferate.
It’s been a slow evolution, with many attempts to perfect social commerce resulting in failure. Will consumers ever have a world where commerce is one with their social experience? Right now the experience is a lot like being at a party, talking with friends, only to be interrupted by an uninvited guest trying to sell you fabric softener.
