Pier 1 said it's shuttering as many as 145 locations this year — with the potential for several dozen more.
Pier 1 said that it could shutter "up to 15% of stores if the company is unable to achieve performance goals, sales targets, and reductions in occupancy and other costs."
The company closed 30 stores last year and has roughly 1,000 stores remaining.
Its stock dropped by nearly 25% on the news.
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