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January 16, 2014
06:48 EDTRHRestoration Hardware sold off on preannouncement concerns, says Wells Fargo
Wells Fargo attributes the recent pullback in shares of Restoration Hardware to concerns the company will be the next retailer to preannounce lower than expected earnings. Wells, however, has seen no change to Restoration's promotional cadence in the stores or online and believes the company has several factors to mitigate the impact from recent weather. Wells believes the sell-off is overdone and sees a buying opportunity at current share levels.
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October 5, 2015
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.
September 25, 2015
11:48 EDTRHPier 1 Imports plunges to 52-week low after cutting FY16 outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) are sinking after the company's second quarter results missed analysts' consensus estimates. The company also lowered its outlook for fiscal year 2016. WHAT'S NEW: After the close on Thursday, Pier 1 Imports reported Q2 earnings per share of 4c and revenue of $430M, missing analysts' consensus estimates of 7c and $435.38M, respectively. Company comparable sales increased 2.5% in Q2, or 3.8% on a constant currency basis. Alex Smith, the company's president and chief executive officer, commented in the earnings report that top line growth in the period was "below our expectations." Smith noted that margins were impacted by higher promotional and clearance activity, as well as inventory-related issues within its distribution center network. Looking ahead, Pier 1 Imports expects third quarter EPS of 10c-14c, far short of analysts' consensus estimates of 23c. Company comparable sales growth, which includes e-commerce, is expected in the low-single digits for the quarter. WHAT'S NOTABLE: Pier 1 lowered its FY16 EPS view to 56c-64c from 83c-87c, well below analysts' estimates of 83c. The company also cut its FY16 company comparable sales growth view, including e-commerce, to low single-digits from its prior view of mid-single digits. For FY16, Pier One sees capital expenditures of approximately $60M, EBITDA margins of approximately 7.5%-8% and merchandising margin, as a percentage of sales, of 55.5%-56%. Smith said the company is on track to end FY16 with year-over-year inventory levels "down meaningfully," but noted that operating with elevated inventories "has been a challenge." PRICE ACTION: In late morning trading, Pier 1 Imports fell $1.45, or 16.71%, to $7.23 on more than seven times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $6.84. Including today's pull back, the shares have lost approximately 40% over the past year. OTHERS TO WATCH: Other home furnishing retailers include Williams-Sonoma (WSM), up 0.73% and Restoration Hardware (RH), up 0.11%.

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