Furniture Today,
FORT WORTH, Texas — Pier 1 Imports said its sales


for five weeks ended Dec. 30 came to $242.5 million, a decrease of 10.9% from the same period a year earlier, with same-store sales down 10.7%.

“Although early December sales trends, driven primarily by holiday-related items, were better than we had experienced in prior months, sales of our core home furnishing related items did not improve,” said Marvin Girouard, Pier 1 chairman and CEO. “Overall, sales were very promotional, resulting in the strong sell-through of seasonal merchandise and continued inventory control.”

He said the company has begun its January clearance, and “our focus remains on keeping inventory levels on plan as we begin to receive the new spring merchandise.”

For the fiscal year to date, sales of $1.39 billion were down 9.8% from a year earlier and same-store sales declined 11.4%.