Pier 1 Margins Expanded During Q1
June 9, 2011-- Home Textiles Today,
Pier 1 Imports saw merchandise margins expand to 59.5% of sales during the first quarter, compared to 58.6% in the year-ago period.
The company said sales rose 9.5% to $335 million. Comps rose 10.2% on top of a 14.3% increase in last year's first quarter.
Company president and ceo Alex Smith said merchandise margins were trending up across all product categories.