Pier 1 reports 2Q sales growth
FORT WORTH, Texas Pier 1 Imports reported that comparable-store sales for the second quarter ended Aug. 28 increased 11.2% compared with last year’s comparable-store sales decline of 7.6% for the second quarter ended Aug. 29, 2009. Total sales for the quarter improved to $310 million compared with $287 million in the year-ago quarter.
Comparable-store sales for the first six months increased 12.7% compared with a comparable-store sales decline of 7.5% in the year-ago period. Total sales for the first six months increased to $616 million from $568 million for the same period last year.
Earnings for the second quarter are projected to be in a range of 10 cents to 12 cents per share.
Alex Smith, president and CEO said, “We are extremely pleased with our comp store sales results for the second quarter. August was particularly strong with the biggest comp of the quarter. We continue to see strengths in all parts of the country and in all merchandise categories -- with improvements in traffic, conversion and ticket.”