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Pier 1 Shares Climb After Company Posts 4Q Results
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PIR
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CHICAGO (AP) — Apparently in response to troubled home decor chain Pier 1 Imports Inc. announcing it cut inventory levels, its shares rose during Tuesday trading despite the company's report of a fourth-quarter loss.
For the three months that ended Feb. 28, including most of the crucial holiday shopping season, the company lost $29 million, or 33 cents per share. That compares with a profit of $14 million, or 16 cents per share, for the same period a year earlier.
Sales fell 11 percent to $389 million from $437 million. ...
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