PIR - Pier 1 Imports: A Risky Turnaround Play

Pier 1 (PIR) is a home decoration chain and online shopping site that has hit considerable troubles in the form of slumping sales and losses that seem to be accelerating:

This seems another case of the retail slaughter that has been plaguing many chains, but in the case of Pier 1, it's largely self-inflicted, according to management.

We'll get to that in a minute, but first, consider the scale of the crisis which can't be all that much of a surprise, given the above operational development:

What you don't see on this

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