Pier 1's market value has been almost completely wiped out over the past five and a half years, falling 97% since 2013.
Analysts say the outlook is discouraging. Of the few surveyed by Bloomberg who cover the name, none rate the stock a "buy," two carry a "sell" rating, and four say "hold."
Analysts say a combination of overwhelming store environments, offerings that don't reflect the latest trends, and expensive sourcing and supply chain costs have brought the retailer to its knees...
Pier 1 has a rich brand history and loyal customer base, a highly competitive e-Commerce platform and a team with the talent, experience and determination to succeed.
We are both sad and angry: sad that the company's associates and customers are now at significant risk and angry at a Board of Directors that, in our view, is culpable for allowing this crisis to develop.
It seemed like everything was on sale at Pier 1.
Pier 1's third-quarter fiscal 2019 results indicate that its turnaround will be more challenging and protracted than previously anticipated.
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