Pier 1 Posts Profit in Third Quarter
December 17, 2009,
FORT WORTH, Texas-Pier 1 Imports transformed a $36.9 million loss from last year's third quarter into net income of $38.8 million this year.
The retailer accomplished this on the strength of an 8.7 percent pickup in sales, which totaled $327.1 million in the quarter, and which included a 13.7 percent jump in same-store sales. The bottom line was further boosted by a $55.6 million income tax refund.