Things aren’t getting any better for Pier 1 Imports.
They are closing 12 more stores this year.
In April, the company announced it was closing 45 locations.
In the first quarter, Pier 1 posted a loss of $81.7 million, which was substantially larger than the $28 million loss it posted in the same quarter a year ago.
The interim CEO says if the company’s turnaround plan doesn’t work, it could close even more stores.