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.
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:
"We rate PIER 1 IMPORTS INC/DE (PIR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow."
You can view the full analysis from the report here: PIR Ratings ReportPIR data by YCharts