Pier 1 seeks safe port in a sea of competitors.(Pier 1 Imports Inc.)
Home Textiles Today, January, 2006 by Felgner, Brent
NEW YORK -- Pier 1 will continue its "less is more" merchandising and market strategy, broadening its price point spread as it further edits assortments--reducing its SKU base by 20 percent--all in an attempt to refocus its business against intensifying competition. "After this past year, we were looking at it again saying, you know, we feel comfortable going down to 2,800" SKUs, from an already stepped-down 3,200 items, said Gary Turner, executive vp and cfo, at an S.G.
Cowan Consumer Conference last week. Pier 1 previously had maintained about 3,500 SKUs in its mix. Pier 1 has been surrounded in recent years by competitors entering its market space, chipping away at the segment and making a grab at its customers. The situation has cost it top-line...
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