Q3 Sales Drop 2.4% at Pier 1 Despite New Catalog

Share this article:
Sales declined 2.4 percent at Pier 1 Imports Inc. during the third quarter ended Nov. 26 for a total of $476.24 million, the company said yesterday. Same-store sales declined 6.5 percent during the same period. Still, the company said results would have been worse if not for the company's newly introduced catalog.


The Fort Worth, TX-based multichannel home décor merchant also posted a net loss of $7.18 million compared to last year's net earnings of $19.48 million.


"Although we are disappointed by overall third-quarter results, the national distribution of two Pier 1 catalogs this fall improved traffic trends over that period," Pier 1 chairman/CEO Marvin J. Girouard said in a statement. "In addition, we believe catalogs can create a positive brand image for Pier 1 merchandise and have a longer impact on customers than newspaper catalogs."


For the nine months ended Nov. 26, the company generated a 3.8 percent decrease in sales to $1.32 billion while comparable-store sales dropped 8.7 percent. Also, Pier 1's net loss for the nine months was $29.83 million compared to last year's income of $41.66 million.


Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

News Byte: Salesforce Forms Unit to Focus on Verticals

News Byte: Salesforce Forms Unit to Focus on ...

The industries business unit, led by ex-White House CIO Vivek Kundra, will serve six industry groupings.

Columbia U. Puts the "Do" in "Donation"

Columbia U. Puts the "Do" in "Donation"

Columbia University raises nearly $7 million in donations in just 24 hours with a combination of social media, live events, and gamification.

If You Build It, They Will Engage

If You Build It, They Will Engage

Construction materials manufacturer USG revamps its image using targeted, multichannel efforts aimed at customers and employees.