Sterne Agee Comments On Pier 1 Earnings

According to Sterne Agee, Pier 1 Imports PIR is likely to report Q2 (ending Aug) sales before the market open on September 1, with earnings likely to be reported mid September. Sterne Agee said that the estimate has been for SSS +8.0% versus a challenging +11.2% LY, with Retail Metrics consensus currently at +7.5%. “On the prior call on 6/16 management had indicated that trends in Q2 remained sound and merchandise margins remained strong. Our more recent checks suggest positive trends have continued, with particular strength perhaps in August and tasting sets seemingly very popular for the summer.” Pier 1 Imports closed yesterday at $11.01.