Pier 1 Imports slumps 30 percent; holiday optimism disappears [MSN Money]
PIER 1 IMPORTS (PIR)
Last pier 1 imports earnings: 6/26 04:15 pm
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Source: MSN Money
© REUTERS/Rick Wilking The Pier 1 Imports store is seen in Broomfield Pier 1 Imports Inc's (PIR.N) stock lost nearly a third of its value on Thursday and its main competitors' shares also fell after the furniture and home decorations retailer warned the holiday shopping season was not going well. Quotes in the article Shares in the seller of wicker chairs and scented candles slumped 30 percent and was on track for its deepest one-day drop since 2009, while rival Williams-Sonoma Inc (WSM.N) fell 3.25 percent, Bed Bath & Beyond Inc (BBBY.O) dipped 2.7 percent and At Home Group (HOME.N) declined 1.3 percent. Pointing to a strong labor market and rising home prices, many U.S. brick-and-mortar retailers have been cautiously optimistic that consumers would spend more this holiday shopping season than in recent years. Pier 1 said in its quarterly report late on Wednesday that holiday shopping got off to a strong start on Black Friday on Nov. 24, hel
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