Pier 1 Imports (PIR) Misses Q2 EPS by $7.94, Comps Decline 12.6%
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Pier 1 Imports, Inc. Reports Second Quarter Fiscal 2020 Financial Results
September 25, 2019 4:15 PM EDTFORT WORTH, Texas--(BUSINESS WIRE)-- Pier 1 Imports, Inc. (NYSE: PIR) today reported financial results for the second quarter ended August 31, 2019.
Second Quarter Fiscal 2020 Financial Summary
Company comparable sales decreased 12.6% compared to the second quarter of fiscal 2019; Net sales decreased 14.3% to $304.6 million compared to the second quarter of fiscal 2019; Net loss of $100.6 million, or ($24.29) per share; Inventory of $328.6 million, down approximately 15% year-over-year; and Cash and cash equivalents of $10.0 million at quarter end, $190.0 million outstanding under its senior secured term loan, $50 million of borrowings... More