Pier 1 Imports (PIR) Tops Q3 EPS by 2c; Cuts FY16 Outlook

Pier 1 Imports (NYSE: PIR) reported Q3 EPS of $0.13, $0.02 better than the analyst estimate of $0.11. Revenue for the quarter came in at $472.5 million versus the consensus estimate of $492.82 million.

Company comparable sales decreased 0.7% (a 0.5% increase on a constant currency basis) as compared to the year ago period;

GUIDANCE:

Pier 1 Imports sees FY2016 EPS of $0.42-$0.46, versus prior guidance of $0.56-$0.64 and the consensus of $0.58. Company comparable sales, which includes e-Commerce, approximately flat to fiscal 2015, compared to prior expectations of low single-digit growth.

The Company provided the following guidance for the fourth quarter of fiscal 2016:

• Company comparable sales, which includes e-Commerce, contracting approximately 2% - 4% compared to the year-ago quarter; and
• Earnings per share in the range of $0.18 to $0.22, utilizing a fully diluted share count of approximately 83 million shares. (The Street sees Q4 EPS of 0.36.)

For earnings history and earnings-related data on Pier 1 Imports (PIR) click here.

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