NEW YORK (TheStreet) -- Shares of Pier 1 Imports (PIR) - Get Report were moving between gains and losses in after-hours trading on Wednesday after the company posted softer-than-expected revenue, but an in-line loss for the 2017 fiscal second quarter.
After today's closing bell, the Fort Worth-based home decor and furniture retailer said revenue dropped 6.7% to $405.8 million year-over-year. That figure was slightly below analysts' forecasts of $407 million.
Pier 1 reported a loss of 5 cents per share, which was in line with Wall Street's projections.
Comparable-store sales fell 4.3% during the period.
"Our top-line results reflect soft store traffic levels throughout the second quarter, most notably in July," CEO Alex Smith said in a statement.
"As we moved through August and into September, we have seen improvement in our sales and merchandise margin trends; however, we remain cautious regarding our sales outlook given that it's early in the quarter and our biggest selling season is still ahead of us," Smith added.
For the fiscal third quarter, the company sees adjusted earnings per share between 9 cents and 15 cents. Analysts are looking for earnings of 12 cents per share.
Fourth-quarter earnings per share are projected to be between 24 cents and 32 cents per share.
Shares were recently up 14.05% to $4.87 in after-hours trading.
More than 3.54 million of the company's shares changed hands today vs. its average volume of 2.59 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations.
But the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: PIR