Pier 1 "Disappointing" December Comps Up 1.3 Percent

Pier 1FORT WORTH, Texas-In a result President and CEO Alex Smith described as disappointing, Pier 1 Imports posted a 1.3 percent gain in same-store sales for five week period ending on Jan. 4.

Smith said the results were especially discouraging considering that Pier 1 began the holiday selling season with a record post-Thanksgiving weekend. "This disruption caused by wintry weather in the first half of December ... continued to impact us throughout the balance of the month and into January," he said. "Store traffic in key markets was significantly affected by adverse weather in fiscal December, with the majority of the days concerned falling on our all-important weekends."

The weather trumped what Smith described as "excellent" holiday assortments and first-class execution both in store and online. "A strong balance of regular and promotional pricing, together with our customer engagement strategies, drove increased conversion and average ticket during the month, making the best of soft store traffic," he said.

Smith added that Pier 1's e-commerce business continues to outperform the company's expectations, accounting for about 4 percent of the company's total December sales. He noted that the sales contribution from pier1.com was substantially higher in the weather-affected areas, and reflected the increased importance of the company's omnichannel strategy, 1 Pier 1.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.