0.6819 -0.02 (-3.26%)
After hours: 6:40PM EST
|Bid||0.6819 x 3100|
|Ask||0.7100 x 1200|
|Day's Range||0.6700 - 0.7861|
|52 Week Range||0.2800 - 3.9600|
|Beta (3Y Monthly)||3.03|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 16, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.75|
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.
Pier 1 (PIR) delivered earnings and revenue surprises of -342.86% and -12.50%, respectively, for the quarter ended November 2018. Do the numbers hold clues to what lies ahead for the stock?
A member of Pier 1 Imports’ board of directors has taken over as interim chief executive officer and the company is exploring “strategic alternatives to enhance shareholder value,” the company announced Wednesday.
Pier 1 Imports has appointed an interim chief executive officer, tapping a member of its board to serve as the temporary leader of the struggling company.
Shares of Pier 1 Imports Inc. fell more than 14% in the extended session Wednesday after the retailer said it started to "evaluate strategic alternatives" for itself, named a new chief executive, announced cost cuts and reduced spending. "Pier 1's Board has initiated a process to evaluate a full range of strategic alternatives to enhance shareholder value and has retained Credit Suisse to assist in this effort," the company said in a statement. Pier 1 named board member Cheryl A. Bachelder interim chief executive officer, effective immediately. Bachelder replaces Alasdair B. James, who has stepped down from the company, Pier 1 said without giving more details. "Clearly the 'New Day' strategic plan did not deliver the desired results fast enough. We will need to promptly narrow our strategic focus and hone our execution in a way that reinvigorates our top-line sales with a distinctive Pier 1 style and value proposition for our customers, while re-engineering our cost structure for sustainable profitability," Bachelder said in the statement. Pier 1 said there's "no assurance" that the strategic alternatives process will result in any transaction, that there's no timetable to end the process, and it will not comment further until "a specific course of action or the company has otherwise determined that further disclosure is appropriate or required by law." Separately, Pier 1 reported third-quarter results that were below Wall Street expectations. It lost 62 cents a share on sales of $413.2 million, compared with forecast of a loss of 2 cents a share on sales of $452 million. Shares of Pier 1 ended the regular trading day up 10%.
On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 62 cents. The home decor company posted revenue of $413.2 million in the period. In the final minutes of trading on Wednesday, ...
Home furnishing retailer Pier 1 Imports Inc said on Wednesday its Chief Executive Officer Alasdair B. James has stepped down and the company is looking at strategic alternatives. The company said Cheryl ...