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Pier 1 Import to close dozens of stores this year



Pier 1 imports are shielding even more stores in 2019.

An official spokesman for the popular residential furniture retailer announced this week that the company will close 57 more stores this year – 12 more than what was first planned – as part of their strategy to reverse the brand's revenue.

The further closure and revocation plan comes as a result of several poor quarterly earnings reports and the ongoing US-China trade war.

"We have taken steps to reduce our exposure to China since last year, by leveraging the strength of our global sourcing team," interim CEO Cheryl Bachelder said in a earnings figure this week. has reviewed our selection and carried out price increases to reduce part of the tariff increases. "

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If the chain's revised approach fails, Bachelder will note that they can take additional measures.

"If we fail to achieve our performance goals, sales goals and reductions in occupations and other costs, we can close up to 15% of our portfolio," she said.

Pier 1 has 967 stores left.


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