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Pier 1 Reports 7% Rise In Comparable-Store Sales, Lifts Profit Forecast

By Insider Scoop
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Courtesy of Benzinga.

Pier 1 Imports Inc (NYSE: PIR) reported a 7% rise in its comparable-store sales and raised its profit forecast for the fiscal third-quarter.

Pier 1 raised its profit forecast to a range of $0.20 to $0.21 per share from its earlier forecast of $0.18 per share. However, analysts were expecting profit of $0.18 per share for the quarter.

Pier 1’s total sales surged 8.2% to $383 million from $354 million in the year-ago period.

Pier 1 shares gained 0.74% to $13.69 in after-hours trading.

For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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