Pier 1 Imports Earnings: Here’s Why the Stock is Down Now
Pier 1 Imports Inc. (NYSE:PIR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.17%.
Pier 1 Imports Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 25% to $0.60 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Rose 15.7% to $551.63 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pier 1 Imports Inc. reported adjusted EPS income of $0.60 per share. By that measure, the company met the mean analyst estimate of $0.60. It beat the average revenue estimate of $551.44 million.
Quoting Management: “Fiscal 2013 was another outstanding year for Pier 1 Imports,” said Alex W. Smith, President and Chief Executive Officer. “We delivered our 14th consecutive quarter of significant sales and profit growth, re-introduced our dividend and repurchased $100 million of Pier 1 Imports stock, returning substantial value to our shareholders. At the same time, we launched our e-Commerce enabled website, established a platform to support our multi-channel strategy and commenced a pilot of our new POS system.”
Key Stats (on next page)…