Market Overview

Pier 1 Imports Appoints Global Retail and Consumer Brand Executive Alasdair James President and Chief Executive Officer


Pier 1 Imports, Inc. (NYSE:PIR) today announced that its Board of
Directors has named Alasdair James, 46, as President and Chief Executive
Officer, with an effective start date of May 1, 2017. Mr. James will be
added to the Company's Board of Directors after his employment commences.

"In our search for a new leader to navigate Pier 1 Imports through this
challenging and exciting retail environment, our Board sought an
innovative, customer-centric and proven leader with a visionary
perspective," said Terry E. London, Chairman of the Board of Pier 1
Imports. "Alasdair comes to us with the strong, consumer-focused
background, track record of success and strategic capability we were
seeking. We are thrilled to have him join Pier 1 Imports to lead our
future success."

"With more than 15 years of retail and consumer goods experience in the
U.S., U.K. and China, Alasdair has the expertise and global operating
skills necessary to drive long-term success for our brand. He is a
proven leader in the consumer space, broadly-skilled in sales,
marketing, brand management and data analytics, with a track record of
implementing consumer-facing initiatives to transform businesses in
tough environments while driving operational improvement."

"We undertook the kind of thorough and thoughtful search process that
our shareholders, customers, business partners and employees deserve. As
a result of that process, it became very clear to us that Alasdair is
the right person to lead Pier 1 Imports. He has the unanimous support of
our Board."

Commenting on his appointment, Mr. James, incoming President and CEO,
stated, "I am thrilled and honored to lead this great organization and
be the steward of a brand as storied as Pier 1 Imports. I look forward
to working with such an accomplished executive team who have, over the
past five years, successfully transformed the Company to a fully
functional omni-channel business. The Company's exceptional brand
recognition, loyal customer base and special and deeply-rooted company
culture provide a strong platform for future success. I believe there is
a significant opportunity in front of us to continue to transform the
business and drive growth and shareholder value in today's quickly
evolving retail landscape."

Mr. James spent his early career in international marketing and account
management in positions of increasing responsibility across the globe,
first at PepsiCo (NYSE:PEP) and then at GlaxoSmithKline PLC (NYSE:GSK),
culminating with the position of Global Marketing Director for Future
Brands. In 2007, he joined Tesco PLC (LON:TSCO), one of the world's
largest retailers, where he held several senior executive roles during a
period of constant innovation, transformation and reinvention at the
company. During his tenure at Tesco, Mr. James served as Commercial
Director of the Global Business Unit, as well as Executive Vice
President and Commercial Director of Tesco China. Mr. James was most
recently with Sears Holdings Corporation (NASDAQ:SHLD), where he served
since 2014 as President of Kmart. During his tenure, Mr. James
transformed the business into a consumer-focused, digitally-enabled and
omni-channel-driven retailer, resulting in substantial growth in digital
sales and average customer ticket.

About Pier 1 Imports

Pier 1 Imports is dedicated to offering customers exclusive,
one-of-a-kind products that reflect high quality at a great value.
Starting with a single store in 1962, Pier 1 Imports' product is now
available in retail stores throughout the U.S. and Canada and online at For more information about Pier 1 Imports or to find the
nearest store, please visit

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