— Furniture Today,
Total revenue also mixed

FORT WORTH, Texas — Pier 1 Imports said same-store sales slid 10.8% in the four weeks ended Feb. 25, during what the chain called a “transitional month,” while The Bombay Company’s same-store sales rose 4.2% from a year earlier.

Total revenue for the four-week period declined 6.5% at Pier 1 to $109.7 million, and rose 0.6% at Bombay to $35 million. Both retailers are based in Fort Worth.

Pier 1 Chairman and CEO Marvin Girouard said sales were slower in February after a clearance event the company believes pulled sales into January.

“During February, inventories were lean most of the month as stores prepared for new merchandise arrivals,” he said. “Although February’s average ticket sales were higher versus the year-ago period, customer traffic was below last year, especially in periods of inclement weather during the month.”

Girouard said the company plans to roll out new styles starting this month in a “modern craftsman” theme.

“Pier 1’s merchandise has evolved from a traditional global motif to a more streamlined and contemporary style and design, with distinctive global influences,” he said. “This new merchandise has simpler lines, architectural shapes, and in many cases larger-scale proportions with sophisticated, fashion-forward color palettes. We believe the new Pier 1 modern craftsman designs make our merchandise more relevant to today’s consumers.”

For its fiscal year ended Feb. 25, Pier 1 reported total sales of $1.85 billion, down 2.5% from the previous year, with same-store sales declining 7.2%.

Bombay said its February same-store sales gain was higher than the total revenue rise mainly because the company got out of the wholesale business last year, which accounted for $1.3 million in sales in February 2004.

“We were encouraged by the positive same-store sales trends, particularly early in the month, but saw a softening of sales as the month progressed,” said Chairman and CEO James Carreker. “Core Bombay stores had the strongest same-store sales growth, while same-store sales at Bombay Kids stores declined slightly due to a shift in the marketing calendar.”