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Pier 1 Imports Dec sales fall following weak sales trend
07 Jan '06
2 min read
Home furnishing maker Pier 1 Imports Inc reported that sales for the five-week period ended December 31, 2005, aggregated $286,869,000, a decrease of 1.0 percent from $289,628,000 last year, and comparable store sales declined 4.8 percent.
Year-to-date sales for the ten-month period amounted to $1,607,413,000, down 3.3 percent from $1,661,654,000 last year, and comparable store sales declined 8.1 percent.
Marvin J. Girouard, Pier 1's Chairman and Chief Executive Officer, commented: "Although sales improved during the last two weeks of December, it was not enough to offset the weak sales trend earlier in the month.
Comparable store sales did meet their projections of negative mid-single digits.
They continued to be promotional in order to manage inventories and make room for new merchandise arriving in stores soon.
In March, Pier 1 stores will look very different with exciting, new merchandise.
Additionally, they are enhancing Pier 1's marketing campaign that will include national television advertising, magazines and direct-mail catalogs."
Pier 1 Imports Inc is North America's largest specialty retailer of imported decorative home furnishings and gifts with Pier 1 Imports stores in 49 states, Puerto Rico, Canada, and Mexico; The Pier stores in the United Kingdom and Ireland; and Pier 1 kids stores.
Year-to-date sales for the ten-month period amounted to $1,607,413,000, down 3.3 percent from $1,661,654,000 last year, and comparable store sales declined 8.1 percent.
Marvin J. Girouard, Pier 1's Chairman and Chief Executive Officer, commented: "Although sales improved during the last two weeks of December, it was not enough to offset the weak sales trend earlier in the month.
Comparable store sales did meet their projections of negative mid-single digits.
They continued to be promotional in order to manage inventories and make room for new merchandise arriving in stores soon.
In March, Pier 1 stores will look very different with exciting, new merchandise.
Additionally, they are enhancing Pier 1's marketing campaign that will include national television advertising, magazines and direct-mail catalogs."
Pier 1 Imports Inc is North America's largest specialty retailer of imported decorative home furnishings and gifts with Pier 1 Imports stores in 49 states, Puerto Rico, Canada, and Mexico; The Pier stores in the United Kingdom and Ireland; and Pier 1 kids stores.
Pier 1 Imports Inc
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