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Stock impact report

Pier 1 shares tank after lowered guidance, earnings miss [MarketWatch]

PIER 1 IMPORTS (PIR) 
Last pier 1 imports earnings: 6/26 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.pier1.com
Company Research Source: MarketWatch
Pier 1 shares tank after lowered guidance, earnings miss Shares of Pier 1 Imports Inc. PIR, +6.96% fell more than 20% late Wednesday after the retailer lowered its fiscal 2018 fourth quarter and full-year 2018 guidance "to reflect the current tone and volatility of business" in December, and missed per-share earnings expectations for the third quarter of fiscal 2018. Pier 1 said it earned $7.4 million, or 9 cents a share, in the quarter, compared with $13.6 million, or 17 cents a share, in the year-ago period. Sales fell to $469 million, compared with $476 million a year ago. Analysts polled by FactSet had expected earnings of 12 cents a share on sales of $467 million. Pier 1 said its EPS guidance for the full year is between 10 cents and 18 cents, compared with a prior guidance of between 31 cents and 41 cents. Adjusted earnings per share guidance was tweaked lower to between 17 cents and 25 cents, compared with a prior view between 38 cents to 48 cents. A detailed plan to lift th Show less Read more
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