Pier 1 Raises Third-Quarter Guidance

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Pier 1 Imports

(PIR) - Get Report

raised its third-quarter guidance, saying it now expects to earn 21 cents to 23 cents a share. The new estimate is nearly flat with the 24 cents earned in the year-ago quarter and up from the company's previous third-quarter forecast of 19 cents to 21 cents a share.

According to Thomson Financial/First Call, Wall Street is expecting earnings of 20 cents a share.

The specialty home furnishings retailer said the better-than-expected numbers were due to increased November sales. Based on sales through the Thanksgiving weekend, the company expects November comparable-store sales to increase 6% to 8%.