Pier 1 Posts Strong December Comp Gains

In the five-week period ended December 29, Pier 1 Imports, Inc. reported that comparable store sales increased 8.2%. The company credited the gain to solid traffic and an increase in average ticket.

“We experienced momentum in sales throughout the month, including the days after Christmas, and sales were strong across all geographic regions of the country,” said Alex Smith, Pier 1 president and CEO, in commenting on December results. “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 e-commerce 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.”