Pier 1 Imports Profit Falls In Line With Forecasts

Pier 1 Imports reported a fiscal third-quarter profit of $17.9 million, or 20 cents a share, down from $26.8 million, or 26 cents a share, in the same period a year ago. That matched the average analyst per-share earnings estimate compiled by FactSet. The specialty home furnishings company said revenue for the quarter ended Nov. 29 rose 4.1% to $484.5 million, while same-store sales increased 2.5%, compared with analyst forecasts of $488 million and 4%, respectively. The company affirmed its full-year outlook for earnings per share of 95 cents to $1.05. The stock rose 4% in after-hours trade.