Pier 1 Imports Battles Back After Solid Q1 Report But Lower Sales Guidance

Pier 1 Imports

shares are trading lower by $0.17 at $7.17 in Thursday's session, but are well of its low of $6.28, Before the open, the company announced a Q1 EPS beat of $0.02 with a slight beat in revenues. What rattled the Street was its lowered profit guidance. After a sharply lower open, it dipped another $0.07 at $6.28 before sharply reversing course. That low coinicded with its April low of $6.26. The ensuing rally took the issue past unchanged ($7.34), but stalled ahead of Tuesday high ($7.70) at $7.47.