|Bid||0.00 x 1800|
|Ask||7.38 x 1000|
|Day's Range||7.95 - 9.16|
|52 Week Range||5.60 - 61.00|
|Beta (3Y Monthly)||6.08|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jun 25, 2019 - Jul 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.50|
Pier 1 Imports Inc. shares were down 16% in after-hours trading Wednesday after the retailer reported fiscal-first quarter earnings. Pier 1 reported a net loss of $81.7 million, or $19.97 a share, compared with a loss of $28.5 million, or $7.11 a share, a year earlier. The company completed a 1-for-20 reverse stock split on June 20. Net sales for the quarter fell to $314 million from $371 million in the year-earlier period. Analysts surveyed by FactSet expected $330 million in revenue. The company posted a 13.5% drop in comparable-store sales compared with a year prior. Pier 1 shares have gained 44% so far this year, as the S&P 500 has risen 16%.
(Bloomberg) -- Pier 1 Imports Inc. shares fell in late trading after reporting a seventh straight quarter of declining sales as its interim chief tries to make its turnaround plan work.Same-store sales, an important measure for retailers, fell 13.5% in the first quarter. Results were dragged down by “aggressive clearance actions to move through lower-priced, lower-margin goods,” Interim Chief Executive Officer Cheryl Bachelder said.Key InsightsBachelder had laid out her plan to revive the struggling retailer in April, including store closures and cost cuts. Investors got their first glimpse into how the plan’s working on Wednesday, with the company saying it’s still on track with the savings it laid out last quarter and that it’s learning “in real-time.”It had said in April it would recapture about $30 million to $40 million of net income and $45 million to $55 million of EBITDA in fiscal year 2020 -- that’s no longer the case. “The expense savings we plan to realize in the second half of fiscal 2020 are expected to be absorbed by reduced gross margins” instead, the CEO said Wednesday.One big question investors may still have is the home goods store’s liquidity position. S&P Global Ratings said in April it was concerned the company isn’t discussing any debt exchange and cited what it called an increasing “potential for a bankruptcy filing or debt restructuring.” The company has said that its turnaround plan “will provide sufficient liquidity" for a rebound.Market ReactionPier 1 shares fell as much as 12% to $7.70 as of 4:27 p.m. after the close of regular trading. The shares were up 44% year to date but are still well below their recent peak above $500 in 2013. The retailer announced a reverse stock split this month, allowing it to regain compliance with the NYSE minimum share price and continue to be listed.Get MoreFor more financial details, click here.For company statement, click here.To contact the reporter on this story: Olivia Rockeman in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEW YORK, NY / ACCESSWIRE / June 26, 2019 / Pier 1 Imports, Inc. (NYSE: PIR ) will be discussing their earnings results in their 2020 First Quarter Earnings to be held on June, 26 2019 at 5:00 PM Eastern ...
Shares of Pier 1 Imports Inc. tumbled 22% in morning trading, enough to pace the NYSE's decliners, as they extend losses following last week's announcement of a 1-for-20 reverse stock split. The reverse split went into effect during Thursday's trading session, effectively lifting Wednesday's closing price from 68 cents to $13.60. The struggling home decor retailer said the idea behind the split was to regain compliance with the NYSE's minimum bid listing rule, in order to maintain listing. But since the split, the stock has now plunged 35%. The stock is headed for the lowest close since Jan. 4. It has plummeted 86% over the past 12 months, while the SPDR S&P Retail ETF has lost 16% and the S&P 500 has gained 7.2%.
Plans for a Pier 1 reverse stock split have PIR stock falling on Thursday.Source: Shutterstock The plan from Pier 1 (NYSE:PIR) has it enacting a reveres split of PIR stock on a 1 to 20 basis. The plan was brought up at the company's annual shareholder meeting an investors voted on it. This saw roughly 62% of PIR stockholders vote in favor of the Pier 1 reverse stock split.Following the completion of the shareholder meeting, plans for the Pier 1 reverse stock split moved forward. This includes the company setting the split to take place at 12:01 a.m. on June 20, 2019.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAccording to the company, the goal of the Pier 1 reverse stock split is to keep the company's shares on the New York Stock Exchange. The NYSE requires the companies listed on it have a trading price of $1.00 or higher on the last trading day of any calendar month during the six-month cure period.This Pier 1 reverse stock split will have the company greatly reducing the number of PIR shares that are available for trade. It will drop it down from the current total of 84,990,884 shares to a new total of 4,249,544. * 6 Stocks Ready to Bounce on a Trade Deal Pier 1 also notes that there will be no fractional shares as a result of its Pier 1 reverse stock plan. Instead, any fractional shares that would manifest will be combined together and sold off by the company's transfer agent. Investors that would have owned fractional shares will be sent a cash payment worth the value of the fractional share.PIR stock was down 25% as of Thursday afternoon. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Blue-Chip Stocks to Buy for a Noisy Market * 5 Strong Buy Biotech Stocks for the Second Half * 6 Stocks Ready to Bounce on a Trade Deal As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Pier 1 Reverse Stock Split: PIR Stock Dives on 1-for-20 Split Plan appeared first on InvestorPlace.
Pier 1 Imports Inc (NYSE: PIR ) announced a 1-for-20 reverse stock split Wednesday to regain compliance with New York Stock Exchange listing standards. The company’s board of directors formally authorized ...
Pier 1 Imports Inc.'s stock will reflect on Thursday a 1-for-20 reverse stock split that went into effect just after midnight. The stock closed at a pre-split price of 68 cents on Wednesday, which would translate to a split-adjusted price of $13.60. The struggling home decor retailer said late Wednesday that shareholders had approved of a reverse split, in the ranges of 1-for-5, 1-for-10 or 1-for-20, and the board of directors decided to go with 1-for-20. "The objective of the reverse stock split is to enable Pier 1 to regain compliance with the NYSE minimum share price continued listing rule and maintain its listing on the NYSE," the company said in a statement. The reverse split will reduce the number of shares outstanding to about 4.25 million from 84.99 million. The stock had tumbled 76% year to date through Wednesday, while the SPDR S&P Retail ETF has declined 16% and the S&P 500 has gained 5.8%.
Pier 1 Imports, Inc. (PIR) today announced that at its 2019 annual meeting of shareholders held on June 19, 2019, Pier 1’s shareholders approved a proposal authorizing the Company’s Board of Directors to effect a reverse stock split at a ratio of 1-for-5, 1-for-10 or 1-for-20, and to reduce the number of authorized shares of common stock by a corresponding ratio, at any time prior to the Company’s annual meeting of shareholders to be held in 2020, as determined by the Board of Directors in its sole discretion. The Company reported that 53,284,243 votes were cast “For” the proposal, representing 62.67% of the Company’s outstanding shares entitled to vote at the 2019 annual meeting of shareholders.
Pier 1 Imports, Inc. today announced that it will report its first quarter fiscal 2020 financial results for the quarterly period ended June 1, 2019, after market close on Wednesday, June 26, 2019, followed by a conference call to discuss the financial results at 4:00 p.m.
[Editor's note: This story was originally published in March 2019. It has since been updated and republished.]The stock market's volatility at the start of 2019 didn't make me any less bullish on stocks, and that mentality has paid off -- the Dow Jones is up 10% year-to-date. And my penny stock picks? While some are down from their first-quarter peaks, most of them remain considerably higher on a YTD basis.Among these stocks, market movements can cause some noise. But the investment thesis on cheap stocks to buy is predicated on huge moves higher in the long-term. Thus, in the near-term, macro-driven movements amount to nothing more than a sideshow.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFrom this perspective, now might be a good time to pile into some stocks under $6. These stocks to buy are a high-risk bunch. But they do have high-reward potential, too. * 5 Safe Stocks to Buy This Summer With that in mind, here is a list of five of the best penny stocks to buy that I think have more upside potential to ride the market's bullishness. Pier 1 (PIR)Source: Shutterstock PIR stock price: 64 cents Year-to-date gain: 100%Furniture retailer Pier 1 Imports (NYSE:PIR) has had a tough time getting its act together for several years. PIR stock has collapsed over the past year. 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 has a three-year strategic plan to turn the business around. The plan includes bigger investments in omni-channel commerce capabilities and marketing.No one knows whether this plan will actually work. But home furnishings is a market with enduring demand, so that helps.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 stock trading under $1. At 50 cents per share in earnings power, it wouldn't be unreasonable to see this stock hit $8 (a market-average 16x multiple). Groupon (GRPN)Source: Shutterstock GRPN stock price: $3.52 Year-to-date gain: 10%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 guy. And Groupon's numbers are pretty good. Its 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 improving.Aside from the numbers, Groupon launched an aggressive advertising campaign last year 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. * 5 Safe Stocks to Buy This Summer Put it all together, and it looks like GRPN stock could have a big-time rally in 2019. Zynga (ZNGA)Source: Shutterstock ZNGA stock price: $6.12 Year-to-date gain: 55.6%Editor's Note: ZNGA was trading under $6 when the article was written.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. In Q4, its revenue rose 7% year-over-year and its bookings jumped 19% YoY. Finally, its operating cash flow soared 241%.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. Arotech (ARTX)Source: arotech.com ARTX stock price: $2.24 Year-to-date gain: -14.5%There is no hiding the fact that the defense sector has been hot under President Donald Trump. 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, its revenues were $103.5 million and its net income was $3.5 million. In 2017, its revenues were $98.7 million and its net income was $3.8 million.In other words, its profits haven't risen much in five years. When profits don't go up, the stock tends not to go up. It is a simple relationship. But its profits are stabilizing. When profits go from declining to stabilizing, they usually go to growth next. * 5 Safe Stocks to Buy This Summer And, when profits go up, stocks tend to go up. 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. Blink Charging (BLNK)Source: Shutterstock BLNK stock price: $2.53 Year-to-date gain: 47.%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 $10 to $3, and popped from $4.50 to $8 … it now sits at a paltry $2.53. This volatility won't give up any time soon. Thus, if you want to avoid volatility, I'd normally 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- or even 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 * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Safe Stocks to Buy This Summer * The 5 Best Telecom Stocks to Buy Now * 6 Innovative Stocks With Big Long-Term Growth Potential Compare Brokers The post 5 Cheap Stocks to Buy That Are $6 or Less appeared first on InvestorPlace.
Exclusive three-month beta program access now available to emerging hedge funds attending 2019 Battle of the Quants conference NEW YORK , May 20, 2019 /PRNewswire/ -- Thasos, an alternative data intelligence ...
It operates through retail stores and an e-commerce website under the brand Pier 1 Imports. Warning! GuruFocus has detected 3 Warning Signs with PIR. For the last quarter Pier 1 Imports Inc reported a revenue of $412.5 million, compared with the revenue of $512.2 million during the same period a year ago.
We want to clarify and confirm Pier 1’s liquidity position, as described during the Company’s earnings call on April 17, 2019. Pier 1 has developed an action plan that the Company believes will provide sufficient liquidity to implement the strategic initiatives that are part of its new fiscal 2020 plan. The Company is not in default under any of its debt agreements, and those agreements do not contain any financial performance covenants.
Zacks Value Trader Highlights: Novavax, J.C. Penney, Pier 1 Imports, Tilray and Aurora Cannabis
Pier 1 Imports has announced a turnaround strategy, including store closures, but analysts are raising the possibility of a liquidation.
Benzinga has examined prospects for many investor favorite stocks over the past week. Bullish calls included a leading airline and a pharmaceutical giant. And bearish calls included cruise line operators ...
Pier 1 Imports plans to close at least 45 stores and potentially up to 100 more as it seeks to cut costs after another disappointing holiday season.
The fourth-quarter earnings of Pier 1 Imports Inc (NYSE: PIR) fell far below analyst expectations. For the entire year, adjusted earnings before interest, tax, depreciation and amortization came in at -$136.7 million, and free cash flow sunk to -$135.2 million. Raymond James called the report “distressing,” and while it didn’t recommend shorting the stock, it reiterated its Underperform rating.
The company announced fourth quarter and fiscal-year earnings Wednesday — and also announced the arrival of an interim CFO.
Pier 1 said the number of stores likely to be closed could increase by up to 15 percent if Pier 1 fails to achieve performance goals, sales targets, and reductions in occupancy and costs. Pier 1, which has a market capitalization of about $55 million, had a long-term debt of $245.6 million as of March 2. In the crucial holiday quarter, Pier 1 reported a 13.7 percent decline in same-store sales and missed Wall Street expectation for quarterly revenue as fewer customers visited its stores.