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PIR - Pier 1 Imports tanks on lower Q1 sales and wider losses
Pier 1 Imports
Pier 1 Imports (NYSE:PIR) sinks 15.5% AH, as the company reports more than expected Q1 losses; sales decreased 15.5% Y/Y $314.3M and comparable sales was down 13.5% due to lower average customer spend, which is primarily attributable to changes in merchandise mix, as well as decreased store traffic; operated 967 stores, a decrease of 30 from last year.
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