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Pier 1 Losses Widen, Will Close 100 Stores

Pier 1 Losses Widen, Will Close 100 Stores

Posted on June 22, 2007 by Chief Marketer Staff

Pier 1 Imports Inc. posted a net loss of $56.8 million for the first quarter, compared to a net loss of $23.2 million in the prior year.

The home furnishings cataloger and retailer reported sales of $356. 4 million for the quarter ended June 2, a 5.2% decline from $376.1 million last year.

The Fort Worth, TX firm said it will close 100 stores this year, up from a previously announced 60, according to a Securities and Exchange Commission filing.

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