Pier 1 Imports Misses Q2 Forecasts
FORT WORTH (AP) - Pier 1 Imports Inc. has reported net income of $9.2 million in its fiscal second quarter.
The Fort Worth-based company said Wednesday that it had a profit of 10 cents per share.
The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The home decor company posted revenue of $418.6 million in the period, which also did not hit Street forecasts. Analysts expected $427.3 million, according to Zacks.
Pier 1 shares have decreased 32 percent since the beginning of the year.
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