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Pier 1 Imports Q2 Comps Up 11.2% - Quick Facts
(RTTNews) - Pier 1 Imports Inc. (PIR) reported that its second-quarter Comparable store sales increased 11.2% compared to last year's comparable store sales decline of 7.6% for the second quarter ended August 29, 2009. Total sales for the quarter improved to $310 million compared to $287 million in the year-ago quarter.
Earnings for the second quarter are projected to be in a range of $0.10 to $0.12 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.
Comparable store sales for the first six months increased 12.7% compared to a comparable store sales decline of 7.5% in the year-ago period. Total sales for the first six months increased to $616 million from $568 million for the same period last year. Merchandise margins were very strong in the second quarter and will be approximately 58% of sales.
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