Pier 1 will "stay the course"

Fort Worth, Texas – Pier 1 Imports said it has been "disappointed" in results during the first three months of its major repositioning initiative, but is committed to "stay the course," said chairman and ceo Marvin Girouard at this morning’s annual shareholders meeting.

Girouard pointed to one positive indicator in the first quarter:

"Sales to interior designers were up 25%," he said, noting, "They are influencers" of trend-buying patterns by general consumers.

Struggling under five consecutive negative quarters, the 1,200-store specialty retailer is aiming at becoming "the value alternative to the higher end retailers." Its current print and television campaign is built around capturing hipness, and uses a cover version of the Grammy-winning 1969 Isley Brothers soul hit "It’s Your Thing."

The chain is carrying better quality goods, stepping up from the mid-price-point market and competing with higher-priced offerings by other home goods retailers. Pier 1 is also in the early stages of developing a direct-to-consumer business, with a new catalog and a small but growing online shopping division.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!