Pier 1 sees same-store sales down in the second quarter
Pier 1 Imports, the Ft. Worth, Texas-based home decor retailer in the midst of a turnaround, has reported its second-quarter same-store sales fell 1.7 percent.
The company, which has not yet released full second-quarter results, said margins were hurt by more sales activity during the period.
Specifically, Pier 1 CEO Alex Smith said traffic was positive, but markdowns in garden accessories and outdoor furniture hurt the company’s overall performance.
Pier 1 will release its full quarterly results on Sept. 18.