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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Pier 1 Imports, Inc. Announces 2013 Fourth Quarter And Fiscal Year Sales And Fourth Quarter Expected Earnings Per Share

Pier 1 Imports, Inc. (NYSE:PIR) today reported sales results for the 14-week fourth quarter and 53-week fiscal year ended March 2, 2013.

Fourth Quarter Highlights

  • Comparable store sales increased 7.9% on top of last year’s 10.3% gain; three-year cumulative comparable store sales increased 27.1%
  • Total sales increased 15.7% to $552 million for the 14-week period
  • Gross profit expected to be approximately 46.2% of sales versus 45.5% of sales last year
  • Earnings per share expected to be approximately $0.57-$0.58 (GAAP) and $0.59-$0.60 (non-GAAP) on a 14-week basis versus $1.04 (GAAP) and $0.48 (non-GAAP) in the fourth quarter of last year (see reconciliation below of expected earnings per share to expected adjusted non-GAAP earnings per share)

For the fourth quarter ended March 2, 2013, comparable store sales on a 13-week basis increased 7.9% versus an increase of 10.3% for the fourth quarter ended February 25, 2012. Total sales for the 14-week fourth quarter improved 15.7% to $552 million compared to $477 million in the 13-week fourth quarter of last year. Strong comparable store sales results for the quarter were primarily attributable to increases in store traffic and higher average ticket. Fourth quarter merchandise margins at the store level are expected to be essentially flat year-over-year. Gross profit is expected to be approximately 46.2% of sales for the fourth quarter versus 45.5% of sales for the fourth quarter of last year.

For the fiscal year ended March 2, 2013, total sales for the 53-week period increased 11.2% to $1.705 billion from $1.534 billion last fiscal year. Comparable store sales for fiscal 2013 on a 52-week basis increased 7.5% versus an increase of 9.5% last fiscal year.

Earnings per share for the fourth quarter of fiscal 2013 are expected to be approximately $0.57-$0.58 (GAAP) and $0.59-$0.60 (non-GAAP) on a 14-week basis compared to $1.04 (GAAP) and $0.48 (non-GAAP) in the fourth quarter of last year on a 13-week basis (see reconciliation below under Financial Disclosure Advisory).

Stock quotes in this article: PIR 

Select the service that is right for you!

COMPARE ALL SERVICES
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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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