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Pier 1 3Q comps up 10.2%

FORT WORTH, Texas Pier 1 Imports reported that comparable-store sales for the third quarter ended Nov. 27 increased 10.2% compared with last year’s comparable-store sales increase of 13.7% for the third quarter ended Nov. 28, 2009. Total sales for the quarter improved to $354 million compared with $327 million in the year-ago quarter.

Alex Smith, Ppesident and CEO, said, “We are extremely delighted with our comp store sales and merchandise margin results exceeding our expectations for the quarter. As previously announced, our September and October sales results were strong and that momentum carried throughout November and the Thanksgiving holiday weekend. Traffic, conversion and average ticket for the quarter were positive and continue to be the key drivers of our comp store sales increases. We look forward to discussing our third quarter results in detail during our upcoming conference call.”