Pier 1 Imports sales and profit rise in Q1

Fort Worth, Texas -- Pier 1 Imports reported Thursday that net income for the quarter ended May 26 rose to $17.8 million, from $14.1 million in the year-ago period.

Sales increased 7.9% to $361.1 million from $334.6 million last year, and same-store sales rose 7.2% during the first quarter on top of last year’s 10.2% gain.

“The results demonstrate the effectiveness of our merchandising strategies and in-store execution, as well as strong full-price selling,” said Alex Smith, president and CEO. “We are excited about the upcoming launch of our e-commerce site.”

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