Pier 1 Imports CFO to depart, likely to shut over 45 stores in 2020

[Yo_Mama_Been_Loggin]

(Reuters) - Pier 1 Imports Inc's Chief Financial Officer Nancy Walsh is leaving the home furnishing retailer after a year in the job, the company said on Wednesday and reported a 13.7 percent decline in same-store sales in the fourth quarter.

Shares of the company fell 20 percent after the bell.

The company said it was considering closing up to 45 locations in fiscal 2020 due to lease expirations.

The number of stores likely to be closed could increase by up to 15 percent more if the company fails to achieve performance goals, sales targets, and reductions in occupancy and other costs, the company said.

https://www.msn.com/en-us/money/companies/pier-1-imports-cfo-to-depart-likely-to-shut-over-45-stores-in-2020/ar-BBW2BVn?li=BBnbfcL

[Chin music]

1. "So much winning."

[madaboutharry]

2. They need to think about the floor plans and displays

in the stores. It is really uncomfortable to shop there. Imo, that has something to do with why they are having problems.

[lanlady]

3. I totally agree

Same merchandise, year after year, crammed into every inch of space. Plus, they're competing with Marshall's Home Goods, which has much better prices and more variety. And Target.

[cynatnite]

4. And it's overpriced, IMO...

I quit going in there because there's rarely anything new plus I felt their prices were too high.

[Rebl2]

5. I find

it is difficult to walk around in their stores because of just to much merchandise. I like the store, but most of there stuff is over priced I believe.

[Codeine]

6. I used to enjoy going there

but thinking about it just now it’s been over a decade since I last stepped foot in one. I prefer World Market and HomeGoods these days, and even then I don’t go often.