A 13.7% sales increase was the result for Pier 1 Imports, Inc. ending November 28, 2009. Total sales for the quarter aggregated $327 million compared to $301 million in the year ago quarter.
Alex W. Smith, President and Chief Executive Officer, said, “Comp store sales strengthened throughout the quarter culminating in a very strong Thanksgiving weekend. Sales were driven by improvements in traffic, average ticket, and conversion rate. Merchandise margins for the quarter continued to show significant year over year improvements due to strong input margins and lower markdown activity. I look forward to discussing both our third quarter results and how December is progressing during our upcoming earnings call.”
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Pier 1 Imports, Inc. is engaged in specialty retail operations. The Company’s specialty retail operations consist of retail stores operating under the name Pier 1 Imports, selling a variety of furniture, decorative home furnishings, dining and kitchen goods, epicurean products, bath and bedding accessories, candles and other specialty items for the home. As of February 28, 2009, the Company operated 1,011 Pier 1 Imports stores in the
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