Thursday, December 20, 2018

Pier 1 CEO out amid ongoing loss

Retail Dive
Pier 1 on Wednesday said that CEO Alasdair James has stepped down and that board member Cheryl Bachelder replaces him in the interim. The company has also retained Credit Suisse to help evaluate "a full range of strategic alternatives to enhance shareholder value," according to a company press release.

In another release, the retailer reported that third quarter net sales fell 11.9% year over year to $413.2 million as store comps tumbled 10.5%, even with a benefit of about 600 basis points thanks to a shift of certain holiday selling days into the calendar.. . . more