cancel
Showing results for 
Search instead for 
Did you mean: 

Pier1 to close near 1/2 its stores as BK rumors persist

tag
gdale6
Moderator Emeritus

Pier1 to close near 1/2 its stores as BK rumors persist

  • Pier 1 Imports unexpectedly reports quarterly earnings and announces store closures.
  • The retailer reports a wider net loss during the fiscal third quarter compared with a year ago.
  • With Monday’s results, Pier 1 has posted sales declines for nine consecutive quarters.

https://www.cnbc.com/2020/01/06/pier-1-reportedly-prepping-for-bankruptcy.html

Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: Pier1 to close near 1/2 its stores as BK rumors persist

“Looking ahead, we believe that we will deliver improved financial results over time as we realize the benefits of our business transformation and cost-reduction initiatives.” - CEO Robert Riesbeck

 

lol They just cut and paste this stuff from all the other pre-BK interviews of this past year, don't they?

Message 2 of 16
iced
Valued Contributor

Re: Pier1 to close near 1/2 its stores as BK rumors persist

I didn't even know Pier1 was still a thing. I had just figured they went extinct along with the other dinosaurs like Circuit City or KayBee Toys.

 

Last time I saw a storefront of theirs was years ago.

Message 3 of 16
M_Smart007
Legendary Contributor

Re: Pier1 to close near 1/2 its stores as BK rumors persist

Oh gosh, I have a gift card that was given to Me last Christmas (2018)

I guess I better get busy and spend it.

Message 4 of 16
Anonymous
Not applicable

Re: Pier1 to close near 1/2 its stores as BK rumors persist


@iced wrote:

I didn't even know Pier1 was still a thing. I had just figured they went extinct along with the other dinosaurs like Circuit City or KayBee Toys.

 

Last time I saw a storefront of theirs was years ago.


Yeah quite honestly I'm amazed they didn't go bankrupt years ago. 

Message 5 of 16
Anonymous
Not applicable

Re: Pier1 to close near 1/2 its stores as BK rumors persist


@Anonymous wrote:

@iced wrote:

I didn't even know Pier1 was still a thing. I had just figured they went extinct along with the other dinosaurs like Circuit City or KayBee Toys.

 

Last time I saw a storefront of theirs was years ago.


Yeah quite honestly I'm amazed they didn't go bankrupt years ago. 


Apparently the market for $275 plates to put on your mantel is stronger than expected.

 

I've also wondered how they've stayed in business. Some nice stuff but a lot of their pricing is completely absurd.

Message 6 of 16
Anonymous
Not applicable

Re: Pier1 to close near 1/2 its stores as BK rumors persist

For sure. Most of the stuff they sell can easily be found in garage/yard sales for a fraction of their costs. Which i assume is why they aren't doing so well anymore, considering all the shows like fleamarket flip etc.

 

I am honestly surprise they have lasted this long given the nature of what thye sell.

Message 7 of 16
Anonymous
Not applicable

Re: Pier1 to close near 1/2 its stores as BK rumors persist

I'm ashamed to admit I used to like going to Crate&Barrel and Pier 1 after walking around a mall with friends on a Sunday.

 

It's no fun at all these days. Retail is just depressing.

 

And even when we went to Pier 1 it was just to find weird little knick-knacks and never for anything expensive. I bet all the stores will be packed during the eventual liquidation sales. People trying to get that 6-foot wicker giraffe for 20 bucks. lol

Message 8 of 16
Anonymous
Not applicable

Re: Pier1 to close near 1/2 its stores as BK rumors persist


@Anonymous wrote:

@Anonymous wrote:

@iced wrote:

I didn't even know Pier1 was still a thing. I had just figured they went extinct along with the other dinosaurs like Circuit City or KayBee Toys.

 

Last time I saw a storefront of theirs was years ago.


Yeah quite honestly I'm amazed they didn't go bankrupt years ago. 


Apparently the market for $275 plates to put on your mantel is stronger than expected.

 

I've also wondered how they've stayed in business. Some nice stuff but a lot of their pricing is completely absurd.


Yeah, but my mother loved it (she bought there). For me, only went with her and left carrying her goods (beast of burden theory).

Message 9 of 16
M_Smart007
Legendary Contributor

Re: Pier1 to close near 1/2 its stores as BK rumors persist


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

@iced wrote:

I didn't even know Pier1 was still a thing. I had just figured they went extinct along with the other dinosaurs like Circuit City or KayBee Toys.

 

Last time I saw a storefront of theirs was years ago.


Yeah quite honestly I'm amazed they didn't go bankrupt years ago. 


Apparently the market for $275 plates to put on your mantel is stronger than expected.

 

I've also wondered how they've stayed in business. Some nice stuff but a lot of their pricing is completely absurd.


Yeah, but my mother loved it (she bought there). For me, only went with her and left carrying her goods (beast of burden theory).


I never really bought the big Items, but I have some small to medium things that are very cool.

I just used My gift card I had laying around, Got a real good deal on some bath towels. (free shipping)

Message 10 of 16
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.