Pier 1 Response to Alden Global Capital 13D

“Pier 1 Imports values constructive input from investors and regularly engages in dialogue with its shareholders regarding strategy and performance. Pier 1 Imports will continue to engage with shareholders, including Alden Global Capital, and evaluate opportunities to increase long-term shareholder value.

Pier 1 Imports’ board of directors and management team are committed to acting in the best interests of all Pier 1 Imports shareholders. The Company has made significant progress executing its omni-channel strategy, and is well positioned to leverage the strength of this platform and the Pier 1 Imports brand to accelerate growth and improve profitability while delivering value to shareholders.”