Pier 1 Imports sales and profit rise in Q1
Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the quarter ended May 26 rose to $17.8 million, from $14.1 million in the year-ago period.
Sales increased 7.9% to $361.1 million from $334.6 million last year, and same-store sales rose 7.2% during the first quarter on top of last year’s 10.2% gain.
“The results demonstrate the effectiveness of our merchandising strategies and in-store execution, as well as strong full-price selling,” said Alex Smith, president and CEO. “We are excited about the upcoming launch of our e-commerce site.”