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:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.

Metal Mulisha Races Towards Customization

Metal Mulisha Races Towards Customization

The motocross apparel company boosts mobile and Web conversions through product recommendations and personalized search.