This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pier 1 Imports, Inc. Announces Fourth Quarter And Fiscal Year Sales

Stocks in this article: PIR

Pier 1 Imports, Inc. (NYSE:PIR) today reported sales results for the fourth quarter and fiscal year ended February 25, 2012.

Fourth Quarter Highlights

  • Comparable store sales increase of 10.3% versus last year’s increase of 8.9%; three-year cumulative comparable store sales increase of 25.7%
  • Gross profit expected to be approximately 45.5% of sales versus 42.8% of sales last year
  • Earnings per share expected to be in a range of $1.03 - $1.04 (fully taxed) and a range of $0.47 - $0.48 before the net tax benefit resulting from the anticipated reversal of the Company’s valuation allowance

Comparable store sales for the fourth quarter ended February 25, 2012 increased 10.3% compared to last year’s comparable store sales increase of 8.9% for the fourth quarter ended February 26, 2011. Total sales for the quarter improved 11.8% to $477 million compared to $427 million in the year-ago quarter. For the fiscal year ended February 25, 2012, total sales increased 9.8% to $1.534 billion from $1.396 billion last fiscal year. Comparable store sales increased 9.5% for the fiscal year compared to a comparable store sales increase of 10.9% last fiscal year. Merchandise margins remained strong in the fourth quarter and will be approximately 59.5% of sales compared to last year’s fourth quarter merchandise margins of 58.4% of sales. Gross profit is expected to be approximately 45.5% of sales for the fourth quarter versus 42.8% of sales for the fourth quarter last year. Fourth quarter earnings per fully diluted share are expected to be in a range of $1.03 - $1.04 (fully taxed) and a range of $0.47 - $0.48 before the net tax benefit resulting from the anticipated reversal of the Company’s valuation allowance. Last year’s fourth quarter reported earnings were $0.48 per share (minimally taxed).

Alex W. Smith, President and Chief Executive Officer, commented, “Fiscal 2012 has been another excellent year for Pier 1 Imports and we are delighted to end our year with strong fourth quarter sales results. Merchandise margins remained strong throughout the quarter and will be approximately 59.5% of sales. Our spring, outdoor and Easter product assortments are pacing ahead of last year and we feel very confident this momentum will carry into the first quarter as we start our new fiscal year.”

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs