Pier 1 Imports (PIR - Get Report) stock was rising 5.56% to $7.41 in early trading on Wednesday after the company reiterated its forecast and gave upbeat holiday commentary.

"Customers responded positively to our seasonal and holiday assortments in December and our team has been performing well at all levels of the business again this quarter," Interim CEO Terry London said in a statement.

"Our January clearance event was successful and readies us for the transition to fresh spring goods this month," he added. The company said it achieved comparable-store sales growth of 0.6% quarter-to-date through January.

For the fiscal fourth quarter, the Fort Worth-based home decor retailer continues to see adjusted earnings per share between 28 cents and 32 cents and comparable-store sales ranging from down 1% to up 1%.

Analysts surveyed by FactSet are expecting adjusted earnings of 31 cents per share and comparable-store sales growth of 0.4%.

"We feel confident about our positioning for spring, which builds on our merchandising, marketing and promotional strategies which helped drive improved performance at Pier 1 Imports during the second half of fiscal 2017," CFO Jeffrey Boyer said.

Pier 1 will provide formal guidance for fiscal 2018 when it reports fourth quarter and fiscal 2017 results in April.

Other retailers such as Target (TGT - Get Report) and J.C. Penney (JCP - Get Report) have issued disappointing holiday guidance recently, which is usually the best period for retail growth.