Pier 1 Posts 10.3% In Q4 Comparable-Store Sales

Pier 1 Imports Inc

projected fourth-quarter net income of $1.03 to $1.04 per share, or adjusted earnings of $0.47 to $0.48 per share, excluding a tax benefit. Analysts were expecting earnings of $0.47 per share for the quarter. Its comparable-store sales surged 10.3% in the quarter. Its gross-profit margin rose to an estimated 45.5%, versus 42.8% in the year-ago period. PIR shares closed at $17.17 yesterday.