Pier 1 Imports Q2 Results Top Expectations

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FORT WORTH (AP) – Pier 1 Imports has forecast its fiscal second-quarter adjusted earnings and revenue at levels above Wall Street’s expectations.

The Fort Worth-based home decor company said Thursday that it anticipates adjusted earnings of 19 cents per share for the period ended Aug. 25. This excludes an interest expense adjustment and other items.

Analysts polled by FactSet expect earnings of 17 cents per share.

Second-quarter revenue rose 8.3 percent to $368 million. Wall Street forecast $365.8 million.

Pier 1 Imports Inc.’s revenue at stores open at least a year, a key gauge of a retailer’s health, increased 6.7 percent. This figure excludes results from stores recently opened or closed.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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