FORT WORTH, Texas--(BUSINESS WIRE)--Jan. 3, 2013--
Pier 1 Imports, Inc. (NYSE:PIR) today reported that December comparable
store sales increased 8.2% for the five-week period ended December 29,
2012 compared to a reported comparable store sales increase of 11.3% for
the five-week period ended December 31, 2011, representing a three-year
cumulative comparable store sales increase of 29.8%.
Alex W. Smith, President and Chief Executive Officer, commented, “We are
very pleased with our December comp store sales results, which reflect
strong traffic and an increase in average ticket. We experienced
momentum in sales throughout the month, including the days after
Christmas, and sales were strong across all geographic regions of the
country. Importantly, we executed our planned balance of regular and
promotional pricing, enabling us to achieve strong store-level margins
that were comparable to last year. Our direct-to-consumer business
continues to build and performance at our new stores is very strong. We
remain confident that the long-term opportunity for growth in both our
e-Commerce business and our Pier 1 Imports stores is significant. With
our holiday clearance event winding down, we are excited about our new
spring assortments, which are arriving in stores this week.”
ICR XChange Investor Conference
The Company today announced that it is participating in the ICR XChange
Investor Conference being held January 15-17, 2013 at The Fontainebleau
Hotel in Miami Beach, Florida. Cary Turner, Senior Executive Vice
President and Chief Financial Officer of the Company, is scheduled to
give a presentation on Thursday, January 17, 2013.
Fourth Quarter and Fiscal 2013 Year-End Results
The Company will announce fourth quarter sales for the period ending
March 2, 2013 on March 7, 2013. The Company will announce fourth quarter
and fiscal 2013 year-end results for the period ending March 2, 2013 on
April 11, 2013 and will host a conference call later that morning to
discuss the results.
Financial Disclosure Advisory
Management’s expectations and assumptions regarding future results are
subject to risks, uncertainties and other factors that could cause
actual results to differ materially from the anticipated results or
other expectations expressed in the forward-looking statements included
in this press release. Any forward-looking projections or statements
should be considered in conjunction with the cautionary statements and
risks contained in the Company’s Annual Report on Form 10-K. Refer to
the Company’s most recent SEC filings for any updates concerning these
and other risks and uncertainties that may affect the Company’s
operations and performance. The Company assumes no obligation to update
or revise its forward-looking statements even if experience or future
changes make it clear that any projected results expressed or implied
will not be realized.
Pier 1 Imports, Inc. is the original global importer of imported
decorative home furnishings and gifts. Information about the Company is
available on www.pier1.com.
Source: Pier 1 Imports, Inc.
Pier 1 Imports, Inc.
Cary Turner, 817-252-8400