UPDATE: Pier 1 Reports 84% Jump In Q1 Net Income

Pier 1 Imports Ltd PIR reported an 84% surge in its fiscal first-quarter net income on Thursday. Pier 1 reported a 10.2% rise in its comparable-store sales. Pier 1's quarterly earnings came in at $14.1 million, or $0.12 per share, up from $7.7 million, or $0.07 per share, in the year-ago quarter. Its shares outstanding climbed 2% to 119.2 million. Pier 1's sales increased to $334.6 million from $306.3 million. However, analysts were expecting earnings of $0.11 per share on revenue of $335.6 million. Pier 1 shares gained 0.63% to $11.25 in after-hours trading. Read more from Benzinga's Company news.