This Day On The Street
Continue to site
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

Pier 1 Imports Management Discusses Q2 2013 Results - Earnings Call Transcript

In the second quarter of fiscal 2013, total sales increased 8.3%. Throughout the period, business trends grew increasingly strong as customers responded favorably to all our product categories, including outdoor and summer. By early August, our stores had transitioned to the new season, and we are set with our fabulous fall Halloween and Harvest merchandise. Early reads on these assortments have been positive. Merchandise margins remained strong, reaching 60.1% in the second quarter. We continue to carefully and thoughtfully analyze the right balance of regular promotion and clearance pricing in order to maximize merchandise margin dollars while offering our customers newness, exclusive quality merchandise and a strong value proposition.

During the quarter, we had fewer clearance markdowns compared to last year, which afforded us the opportunity to deliver more promotional pricing to our customers, whom, we all know, in this current environment, are still looking for a good deal. Our approach delivered both an improved margin rate and more merchandise margin dollars.

Let's now spend some time on what may be the single most important project in the history of our company and certainly the largest and most complex. It is, of course, our new e-Commerce-enabled, fully redesigned website, We are very proud of the new site, which successfully launched just over 6 weeks ago, on time and on budget. The transformation is significant and truly remarkable. We view this successful launch as a major milestone, which positions the business to grow into a true multichannel organization.

We laid out a plan 2 years ago to design and develop a best-in-class website that would be fully reflective of our brand, our stores and who we are. Our plan called for the launch of our new website in the summer of 2012. So that's what we did. And here we are, up and running after 24 months of hard work and dedication by associates throughout the organization, as well as the commitment of our external business partners.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.30 -0.92%
FB $118.08 0.55%
GOOG $695.81 0.50%
TSLA $234.18 0.80%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs