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Pier 1 may close 45 more stores

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Pier 1 Imports announced it's consdering closing 45 more stores.

The home goods retailer shuttered 30 stores in its most recent fiscal year, leaving 973 locations in operation.

“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, interim Pier 1 CEO, said in a statement.

Net sales in its fiscal fourth quarter dropped 19.5% to $412.5 million.

Read more from the International Business Times.


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