Pier 1 Sales Jump 10.9 Percent in Third Quarter

FORT WORTH, Texas-Increases in both store traffic and average ticket produced another healthy quarterly performance for Pier 1 Imports, according to a preliminary report from the home specialty retailer.

Total net sales climbed 10.9 percent in the quarter, which ended on Nov. 24. This included a gain of 7 percent in same-store sales, thanks to the additional traffic and the boost in average ticket. Gross margin, when all the numbers are tallied, is expected to show an increase of 70 basis points to 43.90 percent.

Alex Smith, Pier 1's president and CEO, said the retailer was able to achieve these results despite Hurricane Sandy, which resulted in closings to a large number of its stores for a period of time. Smith said Pier 1's customers "responded particularly well to our fall assortments. We have had a terrific start to the holiday season, including a very strong Thanksgiving weekend, and believe the business is ideally positioned with a compelling merchandise assortment and multiple ways to shop the Pier 1 Imports brand, including both in-store and online."

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

  • Von Tobel Cites Brass Textures Among Top Trends

    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.