Pier 1 Imports' December comp sales up 8.2%
Kids Today Staff -- Home Accents Today, January 3, 2013
Pier 1 Imports, Inc. reported that December comparable store sales increased 8.2% for the five-week period ended Dec. 29, 2012, compared to 11.3% for the five-week period ended Dec. 31, 2011, representing a three-year cumulative comparable store sales increase of 29.8%.
Alex W. Smith, president and CEO, said the results reflected strong traffic and an increase in average ticket. "We experienced momentum in sales throughout the month, including the days after Christmas, and sales were strong across all geographic regions of the country. Importantly, we executed our planned balance of regular and promotional pricing, enabling us to achieve strong store-level margins that were comparable to last year. Our direct-to-consumer business continues to build and performance at our new stores is very strong. We remain confident that the long-term opportunity for growth in both our e-Commerce business and our Pier 1 Imports stores is significant."
The company will announce fourth quarter sales for the period ending March 2, 2013 on March 7, 2013.