Report: Pier I to give stores a makeover
Pier I Imports is updating the appearance of its stores as part of its new three-year turnaround plan.
The retailer plans to redesign all its stores, with a more toned-down vibe and neutral palette that will offer a more modern, less busy- look and allow the merchandise to stand out, reported Forbes. Pier I expects to roll out the redesign, which has already been implemented in the Dallas-Fort Worth market, this fall.
Pier I revealed the details of its plans the day after it reported disappointing results for its fourth quarter and full year. Commenting on the results, Neil Saunders, managing director of GlobalData Retail, said the poor performance of its stores was dragging Pier I down.
“Regarding the nature of the stores, while we recognize that improvements have been made to the layout, we maintain our view that the proposition is not as clear and compelling as it should or could be,” he said. “Pier 1 has some nice pieces, often at good price points, but these can be hard to find. Meanwhile, categories like furniture need more space if they are to be showcased properly. In short, stores are not terrible, but neither are they inspiring enough to drive visitation.”
Pier I ended fiscal 2017 with roughly 1,020 locations.
The retailer plans to redesign all its stores, with a more toned-down vibe and neutral palette that will offer a more modern, less busy- look and allow the merchandise to stand out, reported Forbes. Pier I expects to roll out the redesign, which has already been implemented in the Dallas-Fort Worth market, this fall.
Pier I revealed the details of its plans the day after it reported disappointing results for its fourth quarter and full year. Commenting on the results, Neil Saunders, managing director of GlobalData Retail, said the poor performance of its stores was dragging Pier I down.
“Regarding the nature of the stores, while we recognize that improvements have been made to the layout, we maintain our view that the proposition is not as clear and compelling as it should or could be,” he said. “Pier 1 has some nice pieces, often at good price points, but these can be hard to find. Meanwhile, categories like furniture need more space if they are to be showcased properly. In short, stores are not terrible, but neither are they inspiring enough to drive visitation.”
Pier I ended fiscal 2017 with roughly 1,020 locations.