Smooth sailing into Pier 1's first quarter

FORT WORTH, Texas — Pier 1 Imports is about about its first-quarter prospects after reporting surges in both comps and revenue.

The company said that its total revenue for the fourth quarter, ended Feb. 25, increased a better-than-expected 11.8% to $477 million. Same-store sales rose 10.3%.

The chain said total revenue for the fiscal year ended Feb. 25 climbed 9.8% to $1.53 billion.

"Our spring, outdoor and Easter product assortments are pacing ahead of last year and we feel very confident this momentum will carry into the first quarter as we start our new fiscal year," president and CEO Alex Smith said in a statement.

Pier 1 will report its fourth-quarter and full-year financial results on April 5.