Pier 1 Logs Strong 2Q sales
October 20, 2011-- Home Textiles Today,
Pier 1's sales for the second quarter rose 9.7%, with comps up 10.8% on top of an 11.2% same-store sales increase in the year-ago quarter.
Sales for the quarter were $340 million, and merchandise margins for the second quarter will be approximately 59.3% of sales, up from last year's second quarter merchandise margins of 58.3% of sales. Second quarter earnings are expected to be 14 cents per share.