For the most recent quarter the home décor company said its net income was $17.9 million, or 20 cents per share, compared to $25.8 million, or 26 cents per share for the fiscal 2014 third quarter.
Pier 1's earnings per share results were in line with analysts' expectations.
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Total sales for the quarter grew by 4.1% to $484.5 million versus the $465.5 million reported for the year ago quarter.
However, analysts had expected the company to report earnings of $488.26 million for the latest quarter.
For fiscal 2015 Pier 1 reiterated its financial guidance. The company is expecting earnings to be between 95 cents and $1.05 per diluted share. Analysts have forecast for earnings of 98 cents per share.
"We remain focused on consistent cash generation and a balanced capital allocation strategy, which is enabling us to return capital to shareholders by way of share repurchases and an ongoing dividend, while also investing decisively in our 1 Pier 1 vision," company CEO Alex Smith said.
Separately, TheStreet Ratings team rates PIER 1 IMPORTS INC/DE as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: