Pier 1 Imports: Q1 Profits, Outlook Up

by Christopher Freeburn | June 14, 2012 2:23 pm

Pier 1 Imports: Q1 Profits, Outlook Up

Home furnishings retailer Pier 1 Imports (NYSE:PIR[1]) said it earned $17.8 million during its fiscal first quarter[2], up 26% from $14 million during the same time last year. EPS was 16 cents, compared to 12 cents last year.

That matched the expectations of analysts, RTT News noted.

The company announced that first-quarter sales rose 8% to $361.12 million, which also topped analysts who anticipated $360.07 million.

Investors took the results in stride. Pier 1 shares rose just over 1% in Thursday afternoon trading.

Same store sales grew 7.2%, the company said. Over three years, same-store sales have risen 31.7%, cumulatively.

During the quarter, gross and operating margins rose to 41.6% and 7.6%, respectively.

Pier 1 Imports said that it expects EPS of between $1.08 and $1.14 for fiscal 2013. Wall Street is looking for EPS of $1.13 for the fiscal year.

Endnotes:
  1. PIR: http://studio-5.financialcontent.com/investplace/quote?Symbol=PIR
  2. during its fiscal first quarter: http://www.rttnews.com/1906368/pier-1-imports-lifts-forecast-as-q1-profit-climbs-meets-view.aspx?type=ts

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