Pier I Q4 same-store sales up 8.9%
Fort Worth, Texas — Pier 1 Imports’ same-store sales increased rose 8.9% in the fourth quarter. The chain also offered earnings guidance for the quarter that was slightly above what Wall Street expects.
Total revenue for the quarter rose 8% to $427 million from $396 million.
For the full year, which ended Feb. 26, same-store were up 10.9% while total revenue rose to $1.4 billion from just under $1.3 billion.
"Fiscal 2011 has been an outstanding year for Pier 1 Imports and we are delighted to end the year with a bumper fourth quarter — our most successful in seven years, said president and CEO Alex W. Smith, in a statement.
Walgreens, Rite Aid miss expectations in February
New York City — Walgreens said Thursday its same-store sales in February rose 3.1%, but the growth was slower than Wall Street expected. Analysts expected, on average, expected a 3.5% increase.
The company said pharmacy same-store sales rose 2.7% but were hurt by generic drug introductions over the last year. Non-pharmacy, or front-end, revenue increased 3.8%.
Rite Aid Corp. said Thursday that its same-store sales rose 1% in February, less than the 1.5% increase analysts had predicted.
Pharmacy revenue increased 0.9% and front-end revenue rose 1.1%.
Boot Barn relaunches e-commerce site on Demandware platform
Burlington, Mass. — Demandware announced that Boot Barn, the largest western wear retailer in the world, has relaunched its e-commerce site, BootBarn.com, on the Demandware Commerce platform. Launched in September, the site kicked into high gear with a large boost in online sales during the 2010 holiday season and has continued its strong momentum into 2011.
Replacing its legacy in-house platform, Boot Barn selected Demandware Commerce because of its ability to scale to support the company’s growth and the powerful merchandising functionality that makes it easy to keep up with its dynamic marketing campaigns, Demandware said. Advanced capabilities such as Active Merchandising allow Boot Barn merchants to control all online merchandising interactions across search, personalization, analytics, promotions and catalog with a single, task-based user interface.
“The footwear and apparel business is highly competitive so we needed to upgrade our older ecommerce site to one that could help us compete at a world-class level,” said Patrick Meany, CEO of Boot Barn. “We made a significant commitment and investment in our ecommerce initiatives in 2010 and our decision to work with Demandware is seriously paying off for us and helping us lay the groundwork for future growth.”