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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.

