Pier 1 Loss Much Narrower than Expected

Struggling retailer Pier 1 Imports reported another drop in quarterly sales Thursday, but its operating loss for the latest period was narrower than analysts' expectations.

The company also said it would no longer provide monthly sales numbers and shift to a quarterly reporting basis.

Pier 1 reported a loss, excluding one-time items, of 14 cents a share for its fiscal fourth quarter, which ended March 2, compared with a loss of 4 cents a share in the same quarter a year ago.

Analysts surveyed by Thomson Financial predicted a loss of 32 cents a share.

Sales in the quarter fell 6.4% from the year-ago period to $473.7 million, better than the $457 million analysts predicted.

Shares of Pier 1 jumped 4.5% in German trading.

Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • Concerts leveraging the latest technology and using big data to improve consumer experiences and make more money.

  • The smartwatch wars are heating up. CNBC's Carl Quintanilla reports Apple is reportedly set to launch its smartwatch September 9th, and Samsung has unveiled its Gear S featuring curved display.

  • Discussing how geopolitical forces are impacting the U.S. economy and where the S&P 500 will end the year, with Brian Wesbury, First Trust Advisors chief economist, and James Paulsen, Wells Capital Management chief investment strategist.