Pier 1 Imports Inc. has dropped its second quarter sales and earnings estimate for the period ending Aug. 27. The Fort Worth, TX-based company now estimates that same-store sales will drop between 8% and 9% from a year ago. Furthermore, increased promotional activity and markdowns will eat into its earnings.
Separately, Pier 1 said that it will mail its first national catalog in September, followed by a second nationwide mailing in November. The company did not disclose targeting or mailing quantity information.
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