Pier 1 Reports Same-Store Sales for December

January 2, 2013  by in UnCategorized   

by Home Furnishings Business in Financial Reports on 2013-01-03

Specialty home furnishings retailer Pier 1 Imports (NYSE: PIR) reports that its December same-store sales increased 8.2 percent for the five-week period ended Dec. 29.

The comparable-store sales increase for the same period last year ended Dec. 11, 2011 was 11.3 percent.

"We are very pleased with our December comp store sales results, which reflect strong traffic and an increase in average ticket," said Alex W. Smith, president and CEO. "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 ecommerce 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."

The retailer will announce fourth quarter sales for the quarter ending March 2 on March 7. Complete fiscal 2013 year-end results will be released April 11.