Pier 1 posts Q4 loss, but shares up on outlook

Pier 1 Imports Inc reported a wider-than-expected quarterly loss on Tuesday as markdowns ate into the home furnishings retailer's margins.

But the retailer's shares rose about 25 percent after it gave an encouraging merchandise margin outlook for fiscal 2010.

"As a consequence of more accurate buying, lower supply chain costs, clean inventory, and support from our loyal network of agents and vendors, we do not expect to be under margin pressure this coming fiscal year," Pier 1 Chief Executive Alex Smith said on a conference call.

Read Full Article from Reuters

- Posted: 2009-04-07 13:39:51

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