Pier 1 Collapsing
In 15 years, I think we've been inside that store 4..... maybe 5 times. It's just not a store we enjoy.
Doesn't sound like we're alone.
Pier 1 is the latest retailer to announce big troubles:
Pier 1 Imports on Monday said it intends to close up to 450 locations, or almost half its fleet of 942 stores, as it unexpectedly reported quarterly earnings amid bankruptcy rumors.
Pier 1′s losses have been mounting, as its sales decline. And this latest quarter was no exception. Its third-quarter loss widened from a year ago, as same-store sales declined 11.4%.
Same-store sales declining 10%. Yeah, that's a problem. Big problem.
More:
Grace & Peace & Love to you all -
Matt
p.s. take a look at this (from last October): "These Companies are Closing Locations in 2020" -- on the list....... J Crew, GNC, Sears, JCPenney, Land's End...... and Pier 1
