Pier 1 sales, comps down in April; JPMorgan retained
May 4, 2006,
Fort Worth, Texas – Pier 1 Imports has retained JPMorgan to evaluate strategic alternatives, which indicates a sale of assets could be in the offing.
Marvin Girouard, Pier 1 chairman and ceo, called April sales "disappointing." He pointed to leaner inventories, however, and said new catalog mailings and enhanced advertising will start to show better results. He said, "Over the next several months, we believe that the new merchandising and marketing strategies will begin to improve customer traffic and sales."