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Facebook launches video on Instagram
Menlo Park, Calif. -- Facebook on Thursday announced the launch of a video feature for its photo-sharing app, Instagram. The new feature, which allows users to share video clips lasting up to 15 seconds, is seen as a direct shot at Twitter, which acquired short video start-up Vine last year.
Similar to photos, the Instagram videos will show up on a user's profile and will be available immediately on both Apple’s iOs platform and Google’s Android devices.
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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.