Pier 1 Imports Reports Q3 EPS $0.21 vs $0.21 Est; Revenues $382.7M vs $379.07M Est

Pier 1 Imports, Inc. (NYSE: PIR) today reported financial results for the third quarter ended November 26, 2011. Third Quarter Highlights Comparable store sales increase of 7.0% versus last year's increase of 10.2%; three-year cumulative comparable store sales increase of 30.9% Merchandise margins of 60.5% of sales versus 58.9% last year Gross profit of 43.2% of sales compared to 40.7% last year Operating income increased 50.2% and is 8.6% of sales compared to 6.2% of sales last year Earnings per share of $0.21 (fully taxed) versus $0.18 per share last year (minimally taxed) Execution of Three-Year Growth Plan Alex W. Smith, President and Chief Executive Officer, commented, “We are very pleased with the results of our third quarter. Our strong product assortments, the right balance of regular and promotional pricing and a great store experience are driving robust sales and merchandise margin growth. December sales so far are strong and we expect this trend to continue for the final ten days leading up to Christmas. Our growth plan is on track as ...

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