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Pier I Q4 same-store sales up 8.9%


Fort Worth, Texas -- Pier 1 Imports’ same-store sales increased rose 8.9% in the fourth quarter. The chain also offered earnings guidance for the quarter that was slightly above what Wall Street expects.

Total revenue for the quarter rose 8% to $427 million from $396 million.

For the full year, which ended Feb. 26, same-store were up 10.9% while total revenue rose to $1.4 billion from just under $1.3 billion.

"Fiscal 2011 has been an outstanding year for Pier 1 Imports and we are delighted to end the year with a bumper fourth quarter -- our most successful in seven years, said president and CEO Alex W. Smith, in a statement.

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