Pier 1 Sales Rise 8 Percent in Second Quarter
September 2, 2010,
FORT WORTH, Texas-Second-quarter net sales for Pier 1 Imports increased 8 percent to $310 million, according to a preliminary report on the quarter from the specialty retailer.
The sales gain included same-store sales growth of 11.2 percent. Alex Smith, Pier 1's president and chief executive officer, said August was a particularly strong month for the retailer in terms of comparable-store sales. "We continue to see strengths in all parts of the country and in all merchandise categories, with improvements in traffic, conversion and ticket," Smith said.
The company also said that when its full financial report for the quarter is issued later this month, it should include merchandise margins of about 58 percent of sales.