NEW YORK (TheStreet) -- Pier 1 Imports (PIR) plunged more than 12% on Thursday after the company blamed the "wintry weather" as the reason why sales were down 5.7% in December, its biggest selling month of the year.
The Fort Worth, Texas-based company said that comparable store sales for the five-week period ended Jan. 4 rose 1.3% from last year, but that positive number is a result of a shift in the 2013 calendar that added an extra week. Excluding that adjustment, Pier 1 said sales for December actually fell 5.7% compared with a rise of 8.2% a year earlier.
Pier 1 shares were sagging 12.3% to $20.44 on Thursday.
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