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Pier 1 boosts forecast

By Furniture Today Staff -- Furniture Today, March 3, 2002

FORTH WORTH , Texas — Top 100 store chain Pier 1 Imports has boosted its earnings per share forecast to the range of 48 to 49 cents for its fourth fiscal quarter, ended March 2.

Pier 1 said that recent analysts' consensus forecasts pegged its earnings at 45 cents per share. A year ago, fourth quarter earnings were 38 cents per share.

The company also expects same-store sales to increase by at least 10% in February. According to Marvin Girouard, Pier 1's chairman and chief executive officer, "Our customers are responding better than expected to our successful marketing program and new merchandise selections."

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