|Bid||0.0000 x 800|
|Ask||0.9299 x 2900|
|Day's Range||0.8500 - 0.9300|
|52 Week Range||0.2800 - 3.7000|
|Beta (3Y Monthly)||5.89|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 16, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.92|
Pier 1 Imports, Inc. (PIR) today announced that it has appointed Lance Wills as Executive Vice President, Chief Information Officer, effective immediately. Mr. Wills joins Pier 1 with almost 23 years of information technology experience, including more than 10 years at companies in the retail sector where he was responsible for managing omni-channel platforms, supporting business transformations, building digital expertise and enhancing the customer journey. “We are delighted to welcome Lance to the Pier 1 leadership team,” said Cheryl Bachelder, Interim CEO.
The chain’s “value proposition just isn’t there to the degree it was five to 10 years ago,’’ said Bradley Thomas, an analyst at Keybanc Capital Markets. “We have taken a number of actions to enhance financial flexibility, and we are narrowing our focus and honing execution with a distinctive Pier 1 style and value proposition for our customers,” the company said in an emailed statement.
NEW YORK, Jan. 29, 2019 -- In new independent research reports released early this morning, Capital Review released its latest key findings for all current investors, traders,.
Pier 1 Imports, Inc. (PIR) today announced that it has appointed Robert Bostrom, 66, as Executive Vice President, Chief Legal and Compliance Officer and Corporate Secretary, effective immediately. Mr. Bostrom succeeds Michael Carter, who retired from Pier 1 in September 2018. Most recently, Mr. Bostrom worked at Abercrombie & Fitch (ANF), where he served as Senior Vice President and Special Counsel since October 2018, and as Senior Vice President, General Counsel & Corporate Secretary from 2014 to 2018.
[Editor's note: This story was originally published in August 2018. It has since been updated and republished to reflect changes in stock price, although the writer's opinions may have changed.] The stock market is a mess right now. Ever since Facebook (NASDAQ:FB) dropped the ball, the whole tech sector has rolled over and markets have dropped. The broad market volatility, however, does not change the bull thesis on cheap stocks. In the group of stocks under $5, macro market movements can cause some noise in shares. But, the investment thesis on cheap stocks is predicated on huge moves higher in the long-term. Thus, near-term, macro-driven movements amount to nothing more than a sideshow. From this perspective, now might be a good time to pile into some stocks under $5. These stocks are a high-risk bunch. But, they do have high-reward potential, too. Just look at the three stocks under $10 that I recommended buying in late March, including Pandora (NYSE:P). InvestorPlace - Stock Market News, Stock Advice & Trading Tips All three stocks were considered high-risk losers at the time. But since then, P stock has risen nearly 80%. * 7 Stupidly Cheap Stocks to Buy Now With that in mind, here is a list of five cheap stocks, which I think have equally big upside potential over the next several months. Source: Shutterstock ### Pier 1 (PIR) PIR Stock Price: 71 cents Furniture retailer Pier 1 Imports (NYSE:PIR) has had a tough time getting its act together for several years. Peer Restoration Hardware (NYSE:RH) has seen its stock rise 30% over the past year thanks to a red-hot housing market and robust demand for home furnishings. PIR stock, however, has collapsed during that same stretch. These problems aren't new. Over the past five years, this stock has lost more than 90% of its value. Having said that, there is visibility for a turnaround in PIR stock in the near future. At its core, Pier 1 has been killed by rising e-commerce threats creating huge pricing and traffic headwinds. Pier 1, which stands somewhat square in the middle of price and quality, doesn't really have anything special about the business to protect against these headwinds. Consequently, sales and margins have dropped in a big way. But, the company recently unveiled a three-year strategic plan to turn the business around. The plan includes a re-launch of the Pier 1 brand this fall and bigger investments into omni-channel commerce capabilities and marketing. No one knows whether or not this plan will actually work. But, home furnishings is a market with enduring demand, so that helps. Plus, search interest related to the company is actually starting to grow on a year-over-year basis, illustrating that this plan is off to a good start. Meanwhile, PIR stock is dirt cheap. This company used to have earnings power of $1 per share. Even half of that earnings power (50 cents) would be huge for a $2 stock. At 50 cents per share in earnings power, it wouldn't be unreasonable to see this stock hit $8 (a market-average 16x multiple). Source: Shutterstock ### Groupon (GRPN) GRPN Stock Price: $3.63 Much like Pier 1, savings-king Groupon (NASDAQ:GRPN) feels like one of those companies that were loved yesterday but will be forgotten tomorrow. But, I don't think that's true. I get that the savings and deals market is commoditized now. I also understand that Groupon really isn't a household name for coupons like it used to be. But, I'm a numbers a guy. And the numbers are pretty good here. The customer base is actually still growing (up more than 2% year-over-year last quarter). Thus, global popularity of the Groupon platform is only growing. Meanwhile, margins are improving thanks to management's focus on higher-margin businesses. Operating expenses are also being removed from the system, so the company's overall profitability profile is dramatically improving. Aside from the numbers, Groupon launched an aggressive 2018 advertising campaign with hyper-relevant Tiffany Haddish that scored just shy of 100 million views. I think this campaign will have a long-term positive effect on usage, which could drive the stock higher. Plus, the company is putting itself up for sale, and some analysts think this company can fetch a $12 takeover price. * 10 Stocks to Buy for a Rate Hike Slowdown Put it all together, and it looks like GRPN stock could have a big-time rally in 2019. Source: Brownpau via Flickr (Modified) ### Zynga (ZNGA) ZNGA Stock Price: $4.32 I'm not a huge fan of the mobile gaming sector. It's a tough space plagued with competition and low margins. Plus, competition is only building thanks to social media apps becoming increasingly multi-purpose. But, mobile gaming company Zynga (NASDAQ:ZNGA) seems to have found the key to success in the mobile gaming world. Zynga used to be a mega-popular browser game company with tons of users. But then the company overreached by branching into games that had heavy overlap with the traditional video game market, like sports titles. They couldn't compete in that market. Eventually, the over-extension sparked user churn, and ZNGA stock spiraled downward. That forced Zynga to re-invent itself into something much more relevant and defensible. They did just that. Zynga has transitioned its business model from web-focused to mobile-first while narrowing its gaming title focus. This pivot has streamlined operations, re-invigorated top-line growth, cut costs and improved profitability. Consequently, the numbers supporting Zynga are pretty good. Mobile revenue growth was up 9% in the third quarter. Mobile bookings growth hit 23% year-over-year. The company also reported a huge audience of 22 million mobile daily active users (+10%) and 87 million mobile monthly active users (+9%). From where I sit, this pivot appears to be in its early stages. Mobile is a secular growth narrative, and ZNGA has developed a gaming portfolio that is focused and tailored to that growth narrative. Thus, so long as mobile engagement heads higher, Zynga's numbers should get better. Better numbers will inevitably lead to a higher stock price. Source: arotech.com ### Arotech (ARTX) ARTX Stock Price: $3.21 There is no hiding the fact that the defense sector is hot right now. President Donald Trump came into office, upped the ante on defense and military spending, and in response, the whole world is spending more on defense and military. Defense contractors win when this happens. That is why mega-cap defense contractors like Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA) have been on fire for the past several quarters. But one micro-cap defense contractor that has missed out on this rally is Arotech (NASDAQ:ARTX). Over the past several years, the financials at Arotech haven't gained any ground. Five years ago, revenues were $88 million and operating profits were $3.5 billion. Last year, revenues were $98 million and operating profits were $2.9 million. In other words, profits haven't risen in five years. When profits don't go up, the stock tends not to go up. It is a simple relationship. But, profits are stabilizing. When profits go from declining to stabilizing, they usually go to growth next. And, when profits go up, stocks tend to go up. * 10 Best Stocks Under $10 As such, it looks like Arotech is finally joining the tide when it comes to big boosts in defense and military spending. This tide will inevitably lift Arotech's earnings power substantially, and ARTX will rally as a result. Source: Shutterstock ### Blink Charging (BLNK) BLNK Stock Price: $1.73 When it comes to cheap stocks, there are few as volatile as Blink Charging (NASDAQ:BLNK). Over the past two years, BLNK stock has gone from $30 to $5, and popped from $5 to $15 … it now sits at a paltry $1.73. This volatility won't give up any time soon. Thus, if you want to avoid volatility, I'd say avoid BLNK stock. That being said, if this company's secular growth narrative surrounding building a network of electric vehicle charging stations globally materializes within the next five years, this stock could be a 5-to-10 bagger. It is a big risk. But, eventually, global infrastructure will need to match demand. At that point in time, there will be some huge contracts awarded to electric vehicle charging station companies. Will Blink be one of them? Perhaps. Tough to tell. But if they do land some big contracts, this stock could have another huge pop in a short amount of time. As of this writing, Luke Lango was long FB, PIR, GRPN and ARTX. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks to Buy Now for 2025 * 10 Best Stocks Under $10 * 15 Artificial Intelligence Stocks Leading the New Wave Compare Brokers The post 5 Stocks Under $5 to Buy Before They Soar appeared first on InvestorPlace.
Jason Peterson — a veteran of the advertising industry and one of the leading disrupters in what is generally a rather staid Chicago advertising community — is back in business. Peterson this week opened his own advertising agency that he is calling “The Times,” an evocative name that is itself a departure from so many ad agencies with names that are little more than a series of vapid letters strung together. In early November Peterson unceremoniously and abruptly exited as Havas’ North American chief creative officer, a role he was promoted to after arriving at Havas Chicago as the agency’s chief creative officer in 2011.
Pier 1 Imports Inc. shares sank 20% in Tuesday trading after the struggling retailer announced that it received notice from the New York Stock Exchange that it could be delisted. NYSE trading criteria states that listed companies have to maintain an average closing share price of $1 for more than 30 consecutive trading days. Pier 1 has six months to regain compliance, with the possibility of an extension. Pier 1 stock is down 83% over the past year while the S&P 500 index is down 6.4% for the period.
Pier 1 Imports, Inc. announced that it received a notification on Jan. 11 from the New York Stock Exchange that it was no longer in compliance with continued listing criteria because of its share price, according to a release.
Pier 1 Imports, Inc. (PIR) announced today that it received notification from the New York Stock Exchange (NYSE) on January 11, 2019 that the Company is no longer in compliance with NYSE continued listing criteria that require listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period. In accordance with NYSE rules, Pier 1 has a period of six months from receipt of the notice to regain compliance with the NYSE’s minimum share price requirement, with the possibility of extension at the discretion of the NYSE. Under NYSE rules, the Company’s common stock will continue to be listed and trade on the NYSE during this period, subject to Pier 1’s compliance with other NYSE continued listing requirements.
Bhargav Shah, who formerly served as senior vice president and CIO, left the company effective Nov. 30.
The retail sector was at a turning point in 2018. The rise of Amazon.com, Inc. (NASDAQ: AMZN ) has dominated the narrative for years, but 2018 proved to be a winning year for the segment. Retail was ...
Pier 1 Imports, Inc. (PIR) today announced that in connection with the appointment of Cheryl A. Bachelder as the Company’s Interim Chief Executive Officer on December 18, 2018, Ms. Bachelder received a one-time award of 729,927 shares of restricted common stock on December 28, 2018, having a value of $1,000,000 based on the 30-day trailing average of the closing price of Pier 1 Imports, Inc. common stock as of December 18, 2018. The shares will vest in equal annual installments on the first, second and third anniversaries of the grant date, subject to Ms. Bachelder’s continued service as a director of the Company. The restricted shares will become fully vested in the event her service as a director is terminated for any reason other than her voluntary retirement or voluntary decision not to stand for re-election to the Board of Directors.
Concurrently, Moody's affirmed the company's Caa1 Corporate Family Rating (CFR), Caa1-PD Probability of Default Rating, Caa2 senior secured term loan rating and SGL-3 Speculative Grade Liquidity rating. "Pier 1's third-quarter fiscal 2019 results indicate that its turnaround will be more challenging and protracted than previously anticipated", said Moody's analyst Raya Sokolyanska.
A former Procter & Gamble Co. brand manager and current adviser was named today as interim CEO of Pier 1 Imports Inc., a retailer of home décor.
Pier 1 Imports Inc. says it will put "a more rigorous cost reduction program" in place in order to generate annualized savings in fiscal 2020, but UBS analysts wonder how much difference it will make. The cost-cutting measures are part of a turnaround plan that the struggling home goods retailer announced with its worse-than-expected third-quarter earnings report. "We agree a more aggressive turnaround approach is needed," analysts led by Michael Lasser wrote. "But at this point, it's unclear how much benefit it can generate. Pier 1 has captured $20 million of annualized SG&A [selling, general and administrative expenses] savings for FY'20 ($35 million total expected)." Pier 1 reported a third-quarter loss of 62 cents, sales of $413.2 million, and a same-store sales decline of 10.5%. The results came with the benefit of a holiday shift. The FactSet consensus was for a loss of 6 cents per share, sales of $452.0 million and same-store sales decline of 2.9%. "While Pier 1 has adequate near-term liquidity, including no maturities until 2021 and ample revolver capacity, the third quarter declines reflects continuing challenges in executing its turnaround strategy - particularly in a strong consumer spending cycle," says Raya Sokolyanska, vice president at Moody's. Pier 1 shares have plummeted 41.4% in Thursday trading, and more than 84% for 2018. The S&P 500 index has tumbled 7.7% for the year to date.
was tumbling more than 14% in premarket trading Thursday, Dec. 20, after the retailer said it has begun a "process to evaluate a full range of strategic alternatives to enhance shareholder value" and named board member Cheryl A. Bachelder as interim CEO. In a press release, Pier 1 said it retained Credit Suisse to assist with the process of evaluating alternatives. "Clearly the 'New Day' strategic plan did not deliver the desired results fast enough.
Inc. on Wednesday disclosed the first steps of an aggressive plan to return the retailer to profitability—under new direction—and acknowledged that efforts to revamp sales had fallen short and may have confused customers. , the former chief executive of Popeyes Louisiana Kitchen Inc. who joined Pier 1’s board in 2012. , who became Pier 1 CEO in May 2017.
On Wednesday, the seller of wicker chairs and scented candles said it has retained Credit Suisse to help evaluate a full range of strategic alternatives, but it may not result in a sale. Pier 1, which is struggling to keep up with competing home furnishing companies, including Williams-Sonoma (WSM.N), said Cheryl Bachelder has been appointed interim CEO, effective immediately.