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Pier 1 Posts January Same-Store Sales Increase
By Home Furnishings Business in on February 2006
Fort Worth, Texas-based Pier 1 Imports reported a same-store sales increase of 8.2 percent during the four-week period in January.
Company sales for the month ended Jan. 28 hit $133.8 million, a 12.5 percent increase from last January's sales of $118.9 million. Year-to-date sales for the 11-month period totaled $1.7 billion, a 2.2 percent decline from $1.8 billion during last year's first 11 months. Same-store sales for the 11-month period declined 7 percent.
"We are pleased to report positive comp store sales in January," said Marvin Girouard, chairman and chief executive officer. "Sales throughout the month were highly promotional as planned, and store traffic and average ticket were both up during the month as customers responded favorably to our seasonal clearance event."
Girouard said he expects to see same-store sales in February to be in the negative single digits.
"Looking ahead, we are excited about the March launch of our new merchandise collections, our national spring catalog mailing in mid-March, as well as improved visual presentations in stores," he said.