Oppenheimer Downgrades Pier 1 Imports (PIR) to Perform
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February 11, 2015 9:00 AM EST
Wedbush analyst Seth Basham slashed his price target on Neutral-rated Pier 1 Imports (NYSE: PIR) to $13.50 (from $16.00) after the company sharply reduced its 2014 guidance and announced the retirement of its CFO last night, which the analyst said raises more questions as the company adapts its business to consumers increasingly shifting their shopping... More
February 10, 2015 4:23 PM EST
Pier 1 Imports (NYSE: PIR) announced revised financial guidance for the fiscal year ending February 28, 2015. The Companys outlook reflects softer than expected sales in January and February, as well as higher than forecast expenses, primarily related to incremental supply chain costs. In a separate press release today, the Company also announced that Senior Executive Vice President and Chief Financial Officer Charles H. Turner has retired and Laura A. Coffey, a 17-year veteran of Pier 1 Imports, has been named Executive Vice President Interim Chief Financial Officer, effective immediately.
Alex W. Smith, President and Chief Executive... More
