Pier 1 Imports Inc

* Pier 1 Imports Inc. said fiscal second-quarter profit rose 49% to $17.7 million, or 18 cents a share, 2 cents better than forecasts, as the retailer of imported home decorating items sold more products at full price and kept a lid on costs. Sales grew 16% to $337.9 million.

Shares of Pier 1 Imports Inc., the biggest U.S. retailer of imported furniture, fell 20% after it reported a fiscal first-quarter loss that was wider than analysts had predicted. The net loss was $32.8 million, or 37 cents a share, compared with a loss of $56.4 million, or 64 cents, a year earlier, Fort Worth-based Pier 1 said. Analysts surveyed by Bloomberg predicted an average loss of 15 cents. Sales fell 13% to $310 million, while same-store sales declined 5.4%. Pier 1 shares fell $1.23 to $5.01.

Pier 1 Imports Inc. said profit grew 20% in its fiscal fourth quarter to $34 million, or 34 cents a share, as customers responded to its focus on lower pricing and larger selection. The retailer of imported home-decorating items was expected to earn 31 cents, the average estimate of analysts polled by First Call/Thomson Financial. Sales increased 15% to $380.1 million, with same-store sales up 9%. Fort Worth-based Pier 1 shares rose 16 cents to close at $11.44 on the NYSE.

Cost Plus Inc. rejected an unsolicited $79-million takeover offer from larger Pier 1 Imports Inc., saying the bid for its 296 home-furnishing stores wasn't "attractive." The June 6 stock offer from Fort Worth-based Pier 1, initially worth $4 a share, was rejected unanimously by its board, Oakland-based Cost Plus said Monday. Pier 1 climbed 7.6% in New York trading after the news. Pier 1, the biggest U.S.

Shares of Pier 1 Imports Inc., the biggest U.S. retailer of imported furniture, fell 20% after it reported a fiscal first-quarter loss that was wider than analysts had predicted. The net loss was $32.8 million, or 37 cents a share, compared with a loss of $56.4 million, or 64 cents, a year earlier, Fort Worth-based Pier 1 said. Analysts surveyed by Bloomberg predicted an average loss of 15 cents. Sales fell 13% to $310 million, while same-store sales declined 5.4%. Pier 1 shares fell $1.23 to $5.01.

Pier 1 Imports Inc.'s fiscal second-quarter profit surged 60% as the largest U.S. retailer of imported home furnishings sold more items at full price and controlled costs. Net income rose to $22.1 million, or 23 cents a share, from $13.8 million, or 14 cents, a year earlier. Sales increased 15% to $410.9 million. Pier 1 shares fell 59 cents to $19.60 on the NYSE.

Pier 1 Imports Inc. raised its quarterly profit forecast for the second time this month after it sold more products at full price. Earnings for the third quarter ending Saturday will be 21 to 23 cents a share, the company said. Earlier, Pier 1 raised the estimate to 19 to 21 cents. Analysts' average forecast was 20 cents, according to Thomson Financial/First Call.

Home-furnishings retailer Pier 1 Imports Inc. warned of a bigger-than-expected loss in its fiscal second quarter because of falling sales. The store forecast a loss of 12 cents to 14 cents a share in the quarter ending Saturday, contrasted with a profit of 12 cents a year earlier. Earlier this month, it predicted a loss of 7 cents a share to a profit of 3 cents a share.

Pier 1 Imports Inc., the largest U.S. seller of imported home furnishings, said its first-quarter loss almost doubled after sales were hurt by competition from lower-priced retailers. The net loss for the period ended May 27 widened to $23.2 million, or 27 cents a share, from $12.5 million, or 14 cents, a year earlier. Sales declined 3.6% to $376.1 million, the Fort Worth-based company said. The company has been facing competition from retailers such as Target Corp. and Wal-Mart Stores Inc.

Pier 1 Imports Inc., the largest U.S. retailer of imported home furnishings and accessories, said fourth-quarter earnings fell 11% as higher employee and legal costs hurt margins. Net income dropped to $48.3 million, or 53 cents a share, from $54 million, or 57 cents, a year earlier, the Fort Worth-based company said. Sales rose 6.6% to $555.3 million as the company benefited from the opening of 120 stores.

* About 180,000 pieces of orange-and-red glassware, imported and distributed by Pier 1 Imports Inc., have been recalled because it can too easily crack or break. That poses the risk of cuts. The company has received 17 reports of unexpectedly broken or cracked glassware and one report of an injury. For more information, call (800) 245-4595 or visit www.pier1.com or www.cpsc.gov. * About 97,000 halogen table lamps, sold by Lowe's Cos., have been recalled because the lamps can short-circuit.

The chairman and chief executive of Pier 1 Imports Inc., Marvin Girouard, will retire from the unprofitable home-furnishing retailer and its board early next year, the company said. Girouard has been at Pier 1 for 32 years, the last seven in his current positions. He will retire Feb. 28. "I feel that it is time for me to leave in the course of a normal retirement and allow new leadership to emerge and flourish," he said in a statement released Saturday.

Pier 1 Imports Inc., the largest U.S. seller of imported home furnishings, said its first-quarter loss almost doubled after sales were hurt by competition from lower-priced retailers. The net loss for the period ended May 27 widened to $23.2 million, or 27 cents a share, from $12.5 million, or 14 cents, a year earlier. Sales declined 3.6% to $376.1 million, the Fort Worth-based company said. The company has been facing competition from retailers such as Target Corp. and Wal-Mart Stores Inc.

Home-furnishings retailer Pier 1 Imports Inc. warned of a bigger-than-expected loss in its fiscal second quarter because of falling sales. The store forecast a loss of 12 cents to 14 cents a share in the quarter ending Saturday, contrasted with a profit of 12 cents a year earlier. Earlier this month, it predicted a loss of 7 cents a share to a profit of 3 cents a share.

Pier 1 Imports Inc., the largest U.S. retailer of imported home furnishings, said fiscal second-quarter earnings fell 43% because of a decline in store traffic. Net income was $10.4 million, or 12 cents a share, compared with $18.4 million, or 20 cents, a year earlier. Sales rose 5.7% to $452.3 million, the Fort Worth-based company said. Same-store sales, a key measure of retail health, fell 3%. Profit was a penny more than the average analyst estimate of 11 cents. Pier 1 shares rose $1.

Pier 1 Imports Inc., the largest U.S. retailer of imported home furnishings and accessories, said fourth-quarter earnings fell 11% as higher employee and legal costs hurt margins. Net income dropped to $48.3 million, or 53 cents a share, from $54 million, or 57 cents, a year earlier, the Fort Worth-based company said. Sales rose 6.6% to $555.3 million as the company benefited from the opening of 120 stores.

Pier 1 Imports Inc. reported modest earnings and sales growth for its latest quarter, in line with expectations, but warned that customer traffic this month had been weak. The Fort Worth-based company said it earned $32.2 million, or 35 cents a share, in its fiscal third quarter, up from $31.1 million, or 33 cents, a year earlier. Sales rose 10% to $482.4 million.

Pier 1 Says Exec Has Been Placed on Leave: The Fort Worth-based retailer confirmed reports that it placed its chief financial officer on leave, in the wake of the company's disclosure that it lost $20 million from trading by an outside financial advisor. Although Pier 1 declined to identify the advisor, people familiar with the company said it is Capital Insight Brokerage, a Beverly Hills company run by bond broker Jay Goldinger. A Pier 1 Imports Inc.

Kirstie Alley is out as spokeswoman for Pier 1 Imports. A queer eye is in. The home furnishing chain, which operates more than 1,200 stores in the U.S., Canada, the United Kingdom, Puerto Rico and Mexico, has launched a marketing campaign featuring Thom Filicia, the design guru of the hit makeover show "Queer Eye for the Straight Guy." National television ads featuring Filicia began airing Thursday.

Pier 1 Imports Inc. reported modest earnings and sales growth for its latest quarter, in line with expectations, but warned that customer traffic this month had been weak. The Fort Worth-based company said it earned $32.2 million, or 35 cents a share, in its fiscal third quarter, up from $31.1 million, or 33 cents, a year earlier. Sales rose 10% to $482.4 million.