Pier 1 4Q Revenue Tops Expectations

Revenue at stores open at least 1 year up 10.3 percent

Thursday, Mar 1, 2012  |  Updated 9:24 AM CDT
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Pier 1 4Q Revenue Tops Expectations

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Pier 1 says revenue up nearly 12 percent in 4Q.

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Pier 1 Imports Inc. reported fiscal fourth-quarter revenue on Thursday that beat Wall Street's expectations, while revenue at stores open at least a year rose 10.3 percent.

Fort Worth-based Pier 1 Imports says total revenue for the quarter that ended Feb. 25 increased 11.8 percent to $477 million.

Analysts surveyed by FactSet predicted $469.3 million.

The home decor company anticipates quarterly earnings of 47cents to 48 cents per share, before an expected tax benefit.

Wall Street analysts expect earnings of 47 cents per share.

Pier 1 said total revenue for the fiscal year ended Feb. 25 climbed 9.8 percent to $1.53 billion. Revenue at stores open at least a year rose 9.5 percent.

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