Monday, July 8, 2019

Pier 1 Imports’ Q1 loss widens; ups store closures

Pier 1 Imports continued to bleed in the first quarter as its loss nearly tripled and its sales continued to slide.

The home decor retailer, which is working to turnaround its ailing business, reported a net loss of $81.7 million, or $19.97 a share, for the period ended June 1, compared with a loss of $28.5 million, or $7.11 a share, in the year ago. (Pier 1 completed a 1-for-20 reverse stock split on June 20.). . . more