PIR Shares Climb After Q2 Sales Growth Report

Pier 1 Imports Inc PIR announced on Thursday 11.2% growth in its comparable-store sales for the second quarter of the fiscal year. PIR said its total sales for the quarter ended August 28 climbed to $310 million, from $287 million in the same period a year earlier. The company has projected its earnings per share for the fiscal second quarter in a range of $0.10 to $0.12. CEO Alex W. Smith said, “We continue to see strengths in all parts of the country and in all merchandise categories -- with improvements in traffic, conversion and ticket.” PIR shares jumped 10.70% to $7.24 at 9:51 am. Read more from Benzinga's Company news.