Pier 1 Imports Shares Drop As Earnings, Outlook Disappoint

Pier 1 Imports Inc. shares fell in the extended session Thursday after the home decor and furniture retailer's quarterly results and outlook fell short of Wall Street estimates. Pier 1 shares dropped 11% to $7.75. The company reported fiscal second-quarter earnings of 4 cents a share on revenue of $430 million. Analysts surveyed by FactSet had estimated 7 cents a share on revenue of $436 million. Pier 1 also forecast full-year earnings of 56 cents to 64 cents a share, while analysts had forecast a consensus 84 cents a share.