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News Breaks
June 19, 2014
11:49 EDTRH, WSM, BBBY, PIRPier 1 Imports sinks to 52-week low after cutting guidance
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a fresh 52-week low after the company's first quarter results missed analysts' consensus estimates and it lowered its fiscal 2015 earnings per share outlook. WHAT'S NEW: This morning, Pier 1 Imports reported Q1 EPS of 16c and revenue of $419.1M, trailing analysts' consensus estimates of 20c and $422.81M, respectively. Q1 comparable sales grew 6.3%. WHAT'S NOTABLE: The company lowered its FY15 EPS view to $1.14-$1.22 from $1.16-$1.24, compared to consensus of $1.21. Pier 1 backed its FY15 comparable sales growth view, which includes e-commerce, in the high-single digits. It sees FY15 EBITDA growth in the range of 9%-14%, compared to its previous guidance of 11%-17%. The updated guidance is due to a retail environment that remains highly promotional and is pressuring gross profit in the near-term, the company said. The company sees revenue to exceed $200M in FY15, and sees e-commerce sales of at least $400M in FY16, compared to previous expectations for e-Commerce sales to represent 10% of total sales by the end of FY16. On the company's earnings conference call, Pier 1 said it expects continued pressure on gross profits, mainly due to promotional activities, and does not see store sales increases from traffic. The company expects greater earning power in the second half of FY15, and will face easier comparisons in Q3 and Q4 versus a year ago, it added. PRICE ACTION: In late morning trading, Pier 1 Imports fell about 12% to $16.04 on nearly three times its average daily trading volume. Including today's pull back, the stock is down approximately 33% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
News For PIR;WSM;RH;BBBY From The Last 14 Days
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October 12, 2015
09:33 EDTWSMWilliams-Sonoma downgraded to Peer Perform from Outperform at Wolfe Research
09:31 EDTRHRestoration Hardware upgraded to Outperform from Peer Perform at Wolfe Research
October 8, 2015
10:00 EDTPIR, WSM, BBBYOn The Fly: Analyst Initiation Summary
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05:53 EDTWSMWilliams-Sonoma initiated with a Hold at Jefferies
Target $83.
05:53 EDTPIRPier 1 Imports initiated with a Hold at Jefferies
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05:53 EDTBBBYBed Bath & Beyond initiated with a Hold at Jefferies
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October 5, 2015
13:47 EDTBBBYOptions with increasing volume
Options with increasing volume; DOW BBBY HOG INFY JBL SFUN YNDX AMAT CIT
10:31 EDTBBBYBed Bath & Beyond calls active on renewed takeover chatter
Bed Bath & Beyond weekly October 58.5 and 59 calls are active on total call volume of 6,600 contracts (600 puts) on renewed takeover chatter. October weekly call volatility is at 36, October is at 44, November is at 28; compared to its 52-week range of 17 to 39. Active call volume suggests traders taking positions for upside price movement.
10:27 EDTBBBYRumor: Bed Bath & Beyond moves up on renewed takeover chatter
06:24 EDTRHRestoration Hardware remains a top idea at Deutsche Bank
After meeting with management, Deutsche Bank analyst Adam Sindler says Restoration Hardware remains a top idea. The company's "solid beat and raise potential" remains intact at it completes its real estate transformation and broadens its offering, Sindler tells investors in a research note. He keeps a Buy rating on the retailer with a $105 price target.
October 1, 2015
10:16 EDTBBBYOptions with decreasing implied volatility: WMB TEX BBBY NKE
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10:01 EDTPIRPier 1 Imports recalls 2,500 swivel armchairs in U.S. for falling hazard
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September 30, 2015
10:52 EDTBBBYOptions with decreasing implied volatility
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