Scott+Scott, Attorneys at Law, LLP Announces Investigation of Pier 1 Imports, Inc. (PIR)

NEW YORK--(BUSINESS WIRE)--

Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into Pier 1 Imports, Inc. PIR ("Pier 1") related to potential violations of federal securities laws. If you are a Pier 1 shareholder, you are encouraged to contact Scott+Scott for additional information.

Pier 1 PIR is a retailer of decorative home furnishings and gifts imported from countries around the world. Pier 1 maintains over 1,000 stores in the United States and Canada and operates as one segment consisting of the retail sales of decorative home furnishing, furniture, gifts and related items.

On February 10, 2015, Pier 1 surprised investors by reducing its financial guidance for the fiscal year ending February 28, 2015. Pier 1 blamed the sudden change in its outlook on softer than expected sales in January and February 2015 and "unplanned" expenses, primarily related to incremental supply chain costs. Tellingly, Pier 1 also announced that the Company's Chief Financial Officer, Charles H. Turner – a 23 year veteran with the Company – had "retired."

On this news, shares of Pier 1 plummeted $5.28 per share to $11.69, or more than 30%, in after-hours trading on February 10, 2015.

What You Can Do

If you are a Pier 1 shareholder and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joseph Halloran at (800) 404-7770 or (646) 582-0121 or at or jhalloran@scott-scott.com.

About Scott+Scott, Attorneys at Law, LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.