The battle between Pier 1 Imports and hedge fund Alden Global Capital continues to roll forward with no immediate end in sight. Alden disclosed a 9.5 percent stake in Pier 1 last month and delivered a letter with an ultimatum: Either appoint Alden President Heath...
Pier 1 is trying to protect itself from potential takeover bids. So, in order to do that, the company is invoking something known as a “poison pill” provision, also known as a “Rights Protection Agreement,” which protects the company from any single shareholder acquiring more than...
After several quarters of slumping sales, Pier 1 announced that its long-time CEO will be stepping down. CEO Alex W. Smith, who has led the home furnishings retailer for about 10 years, will step down as president, CEO and a member of the company’s board...
If you thought Pier 1 Imports was one of the home-good retailers you could add to the list of those scant few that posted a profit in the first quarter of the year, think again. “Our first-quarter sales were not as strong as we would have...
January 07, 2020
Pier 1 said on Monday (Jan. 6) that it intends to close nearly half of its 942 locations, according to CNBC, fueling rumors of bankruptcy as the company releases its quarterly earnings. The company specified that up to 450 Pier 1 stores will be closed. It also plans to shutter some of its distribution centers, […]
July 01, 2016
If you thought Pier 1 Imports was one of the home-good retailers you could add to the list of those scant few that posted a profit in the first quarter of...
