Pier 1 Imports president and CEO Alex W. Smith described fiscal 2014 as a transformational year for the company, emphasizing the company’s continued focus on its ‘1 Pier 1’ strategy, which has evolved its operating model from a broad portfolio of stores to a true omnichannel retail business.
Adverse weather in many of Pier 1 Imports’ major markets has continued to plague the home furnishings retailer, prompting president and CEO Alex W. Smith to update fourth-quarter and full-year expectations.
Pier 1 president and CEO Alex W. Smith expressed extreme disappointment over the company’s December sales results, which came in well below expectations despite having kicked off the holiday selling season with a record post-Thanksgiving weekend.
Pier 1 Imports is wasting no time addressing its misguided marketing strategy, which CEO Alex W. Smith identified as one of the causes for the retailer’s poor earnings for the second quarter ended Aug. 31. To that end, the company has named Eric Hunter as EVP of marketing.
Pier 1 Imports president and CEO Alex W. Smith identified misguided marketing and store assortments as the primary causes for the retailer’s poor earnings and performance for the second quarter ended Aug. 31.