Pier 1 is getting back into the registry business. The company also may invest in a renewed Pier 1 Kids effort, according to an analyst report.
Wedbush Morgan analyst Joan Storms, in a research note that comes after a May 7 Pier 1 Investor Day event at the retailer’s headquarters in Fort Worth, TX, related that furniture and soft home also appear as opportunities to Pier 1 management.
Storms noted that Pier 1 continues to expand its recently launched e-commerce business and plans to expand the merchandise assortment, in part by retaining some seasonal merchandise year-‘round. Pier 1 has targeted wall décor and portable lighting as potential online growth segments complementing rugs, which already generate significantly more sales volume online than in stores.
As it enhances its online capabilities, Storms notes, Pier 1 will add complementary mobile capacity.