PITTSBURGH (Patch.com) — Pier 1 Imports could close as many as 145 more stores in the fiscal year if the home goods stores are unable to meet performance goals, sales targets and sales reductions. The retailer made the announcement as it reported on its recent financial results.
“As anticipated, our fourth-quarter sales and profitability were disappointing and reflect the execution issues we identified earlier in the year and have been working with urgency to correct,” Cheryl Bachelder, Pier 1 CEO, said in a statement.
The company closed 30 stores in its fiscal year that ended in March. Pier 1 said it will close up to 45 more locations as leases expire and could close up to 15 percent of its stores nationwide.
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