Pier 1 Imports Inc (NYSE:PIR) stock is soaring today as the company posted its earnings report.
The retailer had fourth-quarter earnings-per-share of 39 cents a share, 8.33% higher than the consensus estimate of 36 EPS. Its revenue was $543.6 million for the quarter, lower than the $548.71 million estimate.
Pier 1’s successful quarter can be attributed to its year-to-year 5.4% revenue growth and solid financial position with reasonable debt levels.
The company expects earnings of 83 cents to 87 cents a share for the upcoming fiscal year. Analysts estimate 90 cents a share for the year.
PIR stock is up 10.3% Thursday.
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