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Pier 1 boosts net income, sales
Fort Worth, Texas – Pier 1 Imports boosted net income and sales during the third quarter of fiscal 2014 compared to the same period in the prior year, partially aided by strong Thanksgiving weekend performance. Net income totaled $26.8 million, up 13% from $23.7 million.
Total sales for the third quarter were $465.5 million, a 9.6% increase from $424.5 million in the year-ago quarter.
Same-store sales rose 6.9%, primarily attributable to increases in conversion rate and higher average ticket.
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Saks Fifth Avenue has new marketing chief
Saks Fifth Avenue, a subsidiary of Hudson's Bay Company, has appointed Mark Briggs as its chief marketing officer, reporting to president Marigay McKee, effective March 2014.
“Mark brings a wealth of experience in luxury brand management with a proven track record of creating retail magic around heritage brands. His passion for retail theater and essential understanding of the customer will be integral to our success,” said McKee. “I am thrilled to welcome Mark to the Saks team, where he will play a key role on the executive committee.”