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Pier 1 Imports Inc (PIR) Stock Slumps on Disappointing Guidance

Pier 1 Imports Inc (PIR) stock was down on a disappointing guidance for fiscal 2017.

Pier 1 Imports, PIR stockPier 1 Imports is expecting losses per share between 4 cents and 8 cents for the first quarter of fiscal 2017. It’ expects EPS for the year to be between 42 cents and 50 cents. Wall Street is expecting EPS of 6 cents for Q1 and 49 cents for the year.

Earnings per share reported by Pier 1 Imports during its Q4 2016 earnings report was 23 cents. This is down from the 37 cents reported a year earlier. However, it did surpass the 21 cents that analysts were expecting.

Revenue for the fourth quarter of 2015 came in at $542.3 million. This beat out the $526.8 million that Wall Street was expecting Pier 1 Imports to report during the quarter.

PIR shares were down 3% as of Noon Thursday.

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