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.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money