Pier 1 Imports Q2 sales decline
Net loss from continuing operations was $43.4 million or $0.49 per share for the quarter versus a net loss of $73.1 million or $0.84 per share for the year-ago period. Merchandise margins in the second quarter were 47% of sales. President and CEO Alex Smith said: "I am delighted that our strenuous efforts to simplify our business and drive out costs are already significantly improving our bottom line. We know that if we continue to focus on execution of our six business priorities, we will be able to reverse five years of deteriorating trends and return to profitability and beyond."