— Furniture Today,
FORT WORTH, Texas — Specialty retailer Pier 1 Imports said July sales were down 12.9% from the same month last year, with same-store sales tumbling 14.9%.


“Weak customer traffic persisted throughout the month and higher average-ticket transactions were offset by lower customer conversions,” said Chairman and CEO Marvin Girouard.

Sales came to $113.1 million in July. For the first five months of the company’s fiscal year, sales were $632.5 million, down 8.3%, with same-store sales declining 11.1%.

“The home furnishings sector continues to be under pressure due to a worsening macro-economic environment that is limiting nonessential household purchases. We have responded by maintaining lean inventories,” Girouard said.

He believes additional promotional efforts will drive sales and traffic in August. Pier 1 will have new TV commercials, national magazine advertisements and direct mail this month, including distribution of its autumn catalog.

“As we continue to transition new merchandise into stores, we will feature traditional Pier 1 merchandise as well as the new modern collections that we have recently introduced,” he said. “In addition, visual presentations in stores will move toward displaying and promoting lower-priced value items that increase customer traffic and conversions.”