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