Pier 1 Imports, Inc. Adopts Short-Term Shareholder Rights Protection Agreement

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Go back to Pier 1 Imports, Inc. Adopts Short-Term Shareholder Rights Protection Agreement

Jefferies Raises price Target on Pier 1 Imports (PIR) Following 2Q Report

September 29, 2016 8:49 AM EDT

Jefferies reiterated a Hold rating on Pier 1 Imports (NYSE: PIR), and raised the price target to $4.50 (from $4.25), following the company's 2Q earnings report. Merchandise margins were in line with guidance on a more balanced promotional posture and improved distribution center efficiency.

Analyst... More

Alden 'Disappointed' in Pier 1 Imports' (PIR) Adoption of 10% Poison Pill

September 28, 2016 3:47 PM EDT

Alden Global Capital LLC , the largest active shareholder of Pier 1 Imports, Inc. (NYSE: PIR), with ownership of approximately 9.5% of Pier 1's outstanding shares, issued a statement today in response to Pier 1's post-market announcement on September 27, 2016 that it has adopted a "poison pill" rights plan (the "Poison Pill") with a 10% ownership limitation. Alden is severely disappointed that Pier 1 has resorted to this highly questionable form of entrenchment rather than engage constructively with one of its largest shareholders.

Heath Freeman, President of Alden, stated, "We were incredibly surprised and disappointed to learn... More