Pier 1 Monthly Sales Drop 7.6%

October 4, 2006  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on October 2006 Pier 1 Imports posted sales for the five-week period ended Sept. 30 of $144.3 million, a 7.6 percent decrease from $156 million from the previous year.

Comparable-store sales declined 10.1 percent. Year-to-date sales of $891 million were down 8.2 percent from $970 million last year, and comparable store sales declined 11.2 percent.

“Sales in September were in-line with our expectations,” said Marvin Girouard, chairman and chief executive officer. “Customer traffic was below last year, average ticket sales were higher and conversion rates were slightly below the year-ago period.”

“New holiday merchandise is currently flowing into Pier 1 stores this week,” he said. “Our marketing plans for October include a new fall catalog mailing to 12 million customers, as well as other direct mail pieces to support promotional activities beginning next week. In addition, new television commercials also start airing next week, national magazine ads continue throughout the holiday season, and we have strong internet and email presence planned throughout the remainder of the year.”