|February 19, 2013|
|08:18 EDT||PIR||Pier 1 Imports sales trends appear robust, says BB&T|
After conducting channel checks, BB&T believes that the company's sales trends have remained strong in January and early February. The firm expects the company to report higher than expected Q4 EPS and it maintains a Buy rating on the stock.
News For PIR From The Last 14 Days
Check below for free stories on PIR the last two weeks.
|February 28, 2014|
|10:28 EDT||PIR||Pier 1 Imports plunges after significantly cutting profit outlook|
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|10:14 EDT||PIR||Pier 1 Imports downgraded to Underperform from Buy at BofA/Merrill|
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|09:59 EDT||PIR||On The Fly: Analyst Downgrade Summary|
Abaxis (ABAX) downgraded to Underperform from Neutral at BofA/Merrill... American States Water (AWR) downgraded to Neutral from Buy at Janney Capital... Catamaran (CTRX) downgraded to Neutral from Buy at ISI Group... Eagle Rock Energy (EROC) downgraded to Market Perform from Outperform at Wells Fargo... Endologix (ELGX) downgraded to Perform from Outperform at Oppenheimer... Equity One (EQY) downgraded to Market Perform from Outperform at Raymond James... Hanesbrands (HBI) downgraded to Hold from Buy at Stifel... InterMune (ITMN) downgraded to Neutral from Outperform at Credit Suisse... Isle of Capri (ISLE) downgraded to Hold from Buy at Deutsche Bank... KBR (KBR) downgraded to Hold from Buy at BB&T... MarkWest Energy (MWE) downgraded to Market Perform from Outperform at Wells Fargo... Medivation (MDVN) downgraded to Hold from Buy at Jefferies... Pan American Silver (PAAS) downgraded to Hold from Buy at Deutsche Bank... The Fresh Market (TFM) downgraded to Outperform from Strong Buy at Raymond James... Vanguard Natural (VNR) downgraded to Market Perform from Outperform at Wells Fargo... Westar Energy (WR) downgraded to Equal Weight from Overweight at Barclays... YuMe (YUME) downgraded to Neutral from Buy at Citigroup... Zale (ZLC) downgraded to Neutral from Buy at Citigroup... Pier 1 Imports (PIR) downgraded to Neutral from Outperform at Credit Suisse... NII Holdings (NIHD) downgraded to Market Perform from Outperform at Raymond James... Mylan (MYL) downgraded to Hold from Buy at Needham... Swift Energy (SFY) downgraded to Neutral from Buy at Global Hunter... Tupperware Brands (TUP) downgraded to Hold from Buy at Argus... Dominion (D) downgraded to Hold from Buy at Argus... Diageo (DEO) downgraded to Underperform from Sector Perform at RBC Capital.
|09:18 EDT||PIR||Pier 1 Imports downgraded to Neutral from Outperform at Credit Suisse|
Credit Suisse downgraded Pier 1 to Neutral from Outperform following the reduced Q4 outlook. Price target lowered to $18 from $25.
|06:06 EDT||PIR||Pier 1 Imports: Significant disruption from adverse weather ahs affected Q4|
This has resulted in considerably softer store traffic, as well as some temporary store closings, which further pressured fourth quarter sales and merchandise margin. The company said, "Our fourth quarter results are frustrating and disappointing. However, we know the weather will eventually end and we can get back to more typical business trends. Our ‘1 Pier 1’ strategy – which lets our customer shop however she chooses – continues to gain traction, and although store traffic was tough in the quarter, Pier1.com once again outperformed our expectations. We saw another sequential increase in e-Commerce sales, which reached 5% of total sales in the quarter, while traffic to the site increased to 1.9 million visitors per week. For the full year, e-Commerce will contribute approximately 4% to fiscal 2014 total sales – putting us readily on track to reach our targeted contribution of 10% of total sales by the end of fiscal 2016.”
|06:04 EDT||PIR||Pier 1 Imports cuts FY14 EPS to $1.00-$1.01 from $1.07-$1.12, consensus $1.12|
Sees FY14 total sales growth of 5.5%, consensus $1.8B; Sees FY14 comparable store sales growth of 2%; Sees FY14 effective annual income tax rate of 38.4%.
|06:03 EDT||PIR||Pier 1 Imports cuts Q4 EPS to 40c-41c from 47c-52c, consensus 51c|
Sees FY14 revenue $512M-$514M, consensus $541.65M; Sees Q4 comp sales about flat