Pier 1 Imports (PIR) Shareholder Alden Sends Letter to Chairman, Board
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Pier 1 Imports (PIR) Responds to Alden Global; Says Board Reconstitution Demands 'Not Constructive'
October 14, 2016 3:12 PM EDTPier 1 Imports, Inc. (NYSE: PIR) issued the following statement in response to a public letter today to its Board of Directors from Alden Global Capital:
Pier 1 Imports Board of Directors and management team are committed to acting in the best interests of all shareholders. The Company is making significant progress under its omni-channel strategy, with e-commerce now representing 20% of Pier 1 Imports sales. As we enter the critical holiday season, the Board of Directors is confident that the programs underway will drive sales and expand market share -- and recent operating results are encouraging.... More
