Pier 1 Imports Plans To Close More Stores

PIER 1 IMPORTS IS PLANNING TO CLOSE OVER 50 STORES

(CNN) – Things aren’t getting any better for Pier 1 imports.

The home decor and furniture store announced Thursday it’s closing 12 more stores this year.

In April, the company announced it was closing 45 locations.

In the first quarter Pier 1 posted a loss of $81.7 million, which was substantially larger than the $28 million loss it posted in the same quarter a year ago.

The interim CEO says if the company’s turnaround plan doesn’t work, it could close even more stores.

Pier 1 has 967 stores remaining

Categories: Business