Pier 1 logs solid 1Q sales
HTT Staff -- Home Textiles Today, 5/31/2012 11:48:20 AM
Fort Worth, Texas - Pier 1's first quarter same-store sales jumped 7.2% on top of a 10.2% gain in last year's 1Q.
Total sales for the quarter ended May 26 rose 7.9% to $361 million. Merchandise margins expanded to approximately 60.2% sales compare to the year-ago rate of 59.8% of sales.
"The new website and ‘Pier 1 To-You' project is entering its final stages. We are on track and will be ready for our launch in late July," said Alex Smith president and ceo.
The company will report full earnings results June 14.
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