Pier 1 Imports Cuts Q4, FY14 EPS Targets - Quick Facts

(RTTNews) - Pier 1 Imports, Inc. (PIR), a specialty retailer of decorative home furnishings and gifts, has lowered its earnings per share expectations for both its fourth quarter and full year ending March 1, 2014.

For the fiscal 2014 fourth quarter, the company now sees earnings per share in the range of $0.40 - $0.41, versus its prior $0.47 - $0.52 range. On average, 13 analysts polled by Thomson Reuters expect earnings per share of $0.51 for the fourth quarter. Analysts' estimates typically exclude one-time items. Total sales of around $512 million - $514 million are expected in the fourth quarter.

For fiscal 2014, earnings per share are currently estimated to lie between $1.00 and $1.01, compared with its earlier range of between $1.07 and $1.12, whereas 14 analysts project annual earnings of $1.12 per share. Total sales growth of about 5.5%, and comparable-store sales growth of nearly 2% are anticipated for the year.

The company said its fiscal 2014 fourth quarter and fiscal year would include 13 weeks and 52 weeks of operating results, respectively.