Revenue Up For Pier 1 Imports In December

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FORT WORTH (AP) – Pier 1 Imports revenue at stores open at least a year climbed 8.2 percent in December, driven by strong traffic and shoppers spending more per transaction.

While the home decor company’s results rose for the five weeks ended Dec. 29, the performance was not as strong as the 11.3 percent increase reported during the prior-year period.

The holiday shopping season is critical for retailers, as it can make up to 40 percent of their annual revenue.

Pier 1 Imports Inc. said Thursday that it will report its fourth-quarter and fiscal 2013 financial results on April 11.

In December the Fort Worth, Texas-based company said that its fiscal third-quarter net income rose 3 percent, as more shoppers visited its stores and spent more money while they were there.

Its shares finished at $20 per share on Wednesday. They hit a 52-week high of $21.24 in early November. They fell as low as $14.11 almost a year ago.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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