NEW YORK (

TheStreet

) --

Pier 1

(PIR) - Get Report

reported its fifth consecutive quarterly profit in the third-quarter, following several years of losses.

During the quarter, the home goods retailer earned $21 million, or 18 cents a share, compared with a profit of $38.8 million, or 37 cents, in the year-ago period. Analysts were calling for a profit of 14 cents a share.

Sales rose 8.2% to $353.8 million, while same-store sales climbed 10.2%.

Pier 1's recovery over the past year can be attributed to its improvement in assortment, and in the third quarter it decided to begin offering more seasonal decorative merchandise.

-- Reported by Jeanine Poggi in New York.

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