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Pier 1 Imports, Inc. Message Board

  • rpvzw rpvzw Sep 19, 2013 4:37 PM Flag

    S&P REITERATES HOLD RECOMMENDATION ON SHARES OF PIER 1 IMPORTS

    S&P REITERATES HOLD RECOMMENDATION ON SHARES OF PIER 1 IMPORTS
    (S&P Capital IQ)
    We lower our FY 14 (Feb.) and FY 15 EPS estimates by $0.08 and $0.07, respectively, following an uncharacteristic earnings miss. We maintain our DCF-based target price of $25, however. Aug-Q EPS of $0.17, vs. $0.19, fell $0.05 below our estimate. Comp-store sales rose 3.5%, a steep deceleration from the prior trend due to ineffective promotions around clearance merchandise. Gross margins contracted more than we expected. Despite the hiccup, we believe PIR is poised to benefit from the tailwinds of the housing recovery, and we see continued gains from its e-commerce initiatives.

 
PIR
4.36+0.10(+2.35%)Sep 23 4:02 PMEDT