Pier 1 Imports Inc. reported third-quarter net income of $25 million, a decline from $23.6 million for the same period last year.
The Fort Worth, TX-based cataloger and retailer posted sales of $387.4 million for the period ending Dec. 1, a 12.8% increase over $343.5 million for comparable quarter in 2000.
For the nine-months ended Dec. 1, net income was $51.2 million, down from $58.2 million for the same time in 2000.
Sales for this period were $1.2 million, up 9.1% from last year’s $981 million.
“Through direct mailings, national television advertising, and newspaper inserts customer traffic and transactions increased during the last 10 weeks of the quarter,” said CEO Marvin J. Girouard, in a statement. “As a result, our financial performance exceeded our expectations.”
Network
