Pier 1 same-store sales up 14%
By Furniture Today Staff -- Furniture Today, January 6, 2002
FORT WORTH, Texas — Strong business in all categories gave Pier 1 Imports a 14% increase in same-store sales for the calendar month of December.
Pier 1 projected a same-store gain of 8%-10% for the normally reported fiscal December period, ended Jan. 5. Total sales are expected to increase 17% to 19% for the fiscal month, and the company projected fourth-quarter earnings of 44 to 46 cents per share, up from prior guidance of 40 to 42 cents.
"Sales in December were driven mostly by increased traffic with a slight increase in average ticket," said Marvin Girouard, chairman and chief executive officer of the Top 100 retailer. "Traffic continued to be strong even after Christmas with solid gains in all categories, including furniture."
The company did not provide dollar figures for the calendar December sales.
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