PIER 1 PROFITS NEARLY HALVED, BUT CREDIT CARD BUSINESS UP.
HFN: The Weekly Newspaper for the Home Furnishing Network, September, 2004 by Rudnick, Michael
Byline: Michael Rudnick
FORT WORTH, Texas-Buried somewhere between reports of soft profits and slumping earnings numbers, Pier 1 Imports' private-label credit card business was on the rise this past quarter.
Pier 1 reported a profit for the second quarter ended Aug. 28 of about $10.45 million, sliding nearly 50 percent from the same period last year. Earnings per share at the specialty furniture retailer were not far behind, slipping to 12 cents per share from 20 cents per share. Profits were partly dragged down by a same-store sales decline of 3.0 percent.
The credit card business offered a positive story, however, as sales from this avenue increased 16 percent for the quarter and represented 30.4 percent of U.S. store sales, compared with...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
