-
Pier I Q1 earnings up; raises guidance
Fort Worth, Texas -- Pier 1 Imports announced a 14% jump in fiscal first-quarter earnings on Thursday and upgraded its full-year guidance.
The company reported net income of $20.3 million for the first quarter ended June 1, compared to $17.8 million for the year ago period.
Total sales were $395 million, a 9.3% increase from $361 million in the prior year quarter. Same-store sales rose 5.9% on stronger store traffic and higher average tickets.