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Pier 1 expects to earn 18 cents per share in third quarter

Furniture Today Staff -- Furniture Today, November 10, 2011

FORT WORTH, Texas — Pier 1 Imports said in a press release Wednesday that it expects to earn at least 18 cents per share in the fiscal third quarter ending Nov. 27.

That's a bit higher than the 17 cents estimated by securities analysts surveyed by FactSet Research. In the same quarter last year, the retailer had net income of $21 million or 18 cents per share.

Pier 1 said it issued the estimate in advance of a store event it was hosting with shareholders and analysts at its newly remodeled New York store at 71 Fifth Ave. in Manhattan, where management would provide an update on the company's business.

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