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

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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

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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?

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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 15
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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.

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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. 



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


@Saeren 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.




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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 15
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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

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Testing aggregate utilization greater than 8.99% but less than 9.00%. It's treated the same as 9.00%.

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


@ImTheDevil wrote:

@Saeren 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 15
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Re: Pier1 to close near 1/2 its stores as BK rumors persist


@Dinosaur wrote:

@ImTheDevil wrote:

@Saeren 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 15
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