Friday, April 20, 2018

Pier 1 prepares for ‘urgent change’ after dismal Q4

Chain Store Age

On the heels of a disappointing fourth quarter, Pier 1 Imports unveiled a three-year plan to improve its business in the long-term. It also said it is ceasing its dividend payments.

The plan, called “Pier 1 2021: A New Day,” features a number of initiatives and organizational changes to drive growth, including targeting niche groups of consumers, refining the merchandise mix, and new marketing strategies. Pier I said it will reimagine the shopping experience, leveraging and strengthening its omnichannel platform.. . . more