Pier 1 (PIR) CEO Provides '08 Outlook on Conference Call
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Presenting at Pier 1 Import's (NYSE: PIR) fourth quarter conference call, President and CEO, Alex Smith, gave several interesting updates on the Company.
The exec said he expects Pier 1 to report a "dramatically" smaller Q1 loss in 2008, compared to last year and sees a "modest" same store sales hike throughout the year. Additionally, Smith said there will be a layout change at Pier 1 within the next 6 months. Lastly, Pier 1's CEO said the Company has "brought the 'treasure hunt feel' back to stores."
Shares of Pier 1 gapped higher on the earnings beat, but sold-off as investors took profits. Before the conference call started at 11 AM ET, Pier 1 stock spiked almost 8% from its intraday low of $6.73, but once again sold-off as the conference call started. The stock is now trading in a range, and is up about $0.23, or 3%, to $7.12.
Pier 1 Imports, Inc. operates as a specialty retailer of furniture, decorative home furnishings, dining and kitchen goods, bath and bedding accessories, and specialty items in the United States and Canada. [BCS]
The exec said he expects Pier 1 to report a "dramatically" smaller Q1 loss in 2008, compared to last year and sees a "modest" same store sales hike throughout the year. Additionally, Smith said there will be a layout change at Pier 1 within the next 6 months. Lastly, Pier 1's CEO said the Company has "brought the 'treasure hunt feel' back to stores."
Shares of Pier 1 gapped higher on the earnings beat, but sold-off as investors took profits. Before the conference call started at 11 AM ET, Pier 1 stock spiked almost 8% from its intraday low of $6.73, but once again sold-off as the conference call started. The stock is now trading in a range, and is up about $0.23, or 3%, to $7.12.
Pier 1 Imports, Inc. operates as a specialty retailer of furniture, decorative home furnishings, dining and kitchen goods, bath and bedding accessories, and specialty items in the United States and Canada. [BCS]
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