Pier 1 sales down 13.1% in October

Furniture Today,
FORT WORTH — Pier 1 Imports posted a 13.1% decline in October sales as it continued to struggle to get customers through its doors.


The home furnishings specialty retailer reported sales of $114.1 million for the four-week period ended Oct. 28, down from $131.3 million for the same period a year ago. Same-store sales declined 13.7%.
For the fiscal year to date, Pier 1’s sales were off 8.7% to $1.0 billion and same-store sales decreased 11.1%.
“Although average ticket and conversion rate in the month of October were down only slightly from last year, traffic counts continue to be disappointing,” said Marvin Girouard, chairman and CEO of the 1,200-store Top 100 company.
The retailer said it is preparing to send the first of three holiday catalog mailings to 15 million consumers, as well as direct mail pieces supporting promotions.