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FORT WORTH, Texas–(BUSINESS WIRE)–Pier 1 Imports, Inc. (NYSE:PIR) today appear basic banking after-effects for the fourth division and budgetary year concluded February 25, 2017.
Fourth Division Budgetary 2017:
Full-Year Budgetary 2017:
“We are admiring with our basic fourth division banking results,” said Jeffrey N. Boyer, Controlling Vice President and Chief Banking Officer. “Our aggregation commensurable sales were in band with our antecedent advice and reflect able beheading of our merchandising, business and promotional strategies. We are adopting our estimates for antithesis per allotment and adapted antithesis per allotment for the fourth division and abounding year as a aftereffect of a cardinal of key factors. Improved capability of our promotional and discounting initiatives forth with a assiduity of our accumulation alternation efficiencies collection addition division of decidedly college commodity margin. At the aforementioned time, our advancing amount ascendancy and adeptness programs throughout the Aggregation resulted in bigger than accustomed operating amount performance.
“We are entering budgetary 2018 in a able position both operationally and financially,” connected Mr. Boyer. “With our solid antithesis sheet, acclimatized controlling aggregation and assembly who are awful committed to the Pier 1 Imports brand, we are able-bodied positioned to abide leveraging our omni-channel capabilities and bear added amount to our shareholders.”
Raymond James 38th Anniversary Institutional Investors Appointment
As ahead announced, the Aggregation is accommodating in the Raymond James 38th Anniversary Institutional Investors Appointment actuality captivated March 5-8, 2017, at the JW Marriott Orlando Grande Lakes Hotel in Orlando, Florida. Jeffrey N. Boyer, Controlling Vice President and Chief Banking Officer, will bear a presentation on Tuesday, March 7th at 7:30 a.m. Eastern Time.
A alive audio webcast of the presentation forth with the Company’s presentation abstracts will be accessible through the Investor Relations area of pier1.com on the day of the presentation. The webcast will be accessible for 7 canicule afterward the event. The abstracts can be accessed by selecting “Investor Relations” on the Company’s homepage and bond through to the “Events” page.
Fourth Division and Full-Year Budgetary 2017 Banking After-effects Appointment Alarm
The Aggregation will host a appointment alarm to altercate fourth division and full-year budgetary 2017 banking after-effects at 4:00 p.m. Central Time on Wednesday, April 12, 2017. Investors will be able to affix to the alarm through the Company’s website at pier1.com. The appointment alarm can be accessed by selecting “Investor Relations” on the Company’s homepage and bond through to the “Events” page, or dialing 1-844-807-9149, or if international, 1-210-229-8834. The appointment ID cardinal is 84183624.
Banking Disclosure Advisory
The Aggregation letters its banking after-effects in accordance with U.S. about accustomed accounting attempt (“GAAP”). All banking abstracts in this columnist absolution is basic and represents the best accepted advice accessible to the Company’s management, as banking closing procedures for the division and full-year concluded February 25, 2017, and the anniversary analysis are not yet complete. These basic estimates are not a absolute account of the Company’s banking after-effects for the three- and twelve-month periods concluded February 25, 2017, and absolute after-effects may alter materially from these estimates as a aftereffect of the achievement of accustomed quarter-end and anniversary accounting procedures and adjustments, including achievement of the anniversary audit, which could aftereffect in changes to these basic results.
This columnist absolution references commodity allowance and adapted antithesis per share, which are non-GAAP banking measures. The Aggregation believes that the non-GAAP banking measures referenced in this columnist absolution acquiesce administration and investors to accept and analyze after-effects in a added constant address for the three- and twelve-month periods concluded February 25, 2017, and February 27, 2016. Non-GAAP banking measures should be advised added and not a acting for the Company’s after-effects appear in accordance with GAAP for the periods presented.
Administration believes commodity allowance is a allusive indicator of the Company’s achievement which provides advantageous advice to investors apropos its banking action and after-effects of operations. Commodity allowance represents the aftereffect of abacus aback commitment and accomplishment net costs and abundance ascendancy costs to gross profit. Administration uses commodity margin, calm with banking measures able in accordance with GAAP, to appraise the Company’s operating performance, to enhance its compassionate of amount operating achievement and to analyze the Company’s operating achievement to added retailers. Commodity allowance does not acceptation to be an another to net assets or gross accumulation appear in accordance with GAAP as a admeasurement of operating performance.
This columnist absolution additionally references basic estimated adapted antithesis per share, which excludes the appulse of severance and added accuse accompanying to the abandonment of the Company’s above Chief Controlling Officer in budgetary 2017. Administration believes this non-GAAP banking admeasurement is advantageous in comparing the Company’s year-over-year operating performance. Adapted antithesis per allotment does not acceptation to be an another to net assets or antithesis per allotment appear in accordance with GAAP as a admeasurement of operating performance.
Except for absolute advice independent herein, the statements in this columnist absolution or contrarily fabricated by our administration in affiliation with the accountable amount of this columnist absolution are advanced statements (as such appellation is authentic in the Private Securities Litigation Reform Act of 1995) and absorb risks and uncertainties and are accountable to change based on assorted important factors. This columnist absolution includes advanced statements that are based on management’s accepted estimates or expectations of approaching contest or approaching results. These statements are not absolute in attributes and can about be articular by such words as “believe,” “expect,” “estimate,” “anticipate,” “plan,” “may,” “will,” “intend” and agnate expressions. Management’s expectations and assumptions apropos approaching after-effects are accountable to risks, uncertainties and added factors that could account absolute after-effects to alter materially from the advancing after-effects or added expectations bidding in the advanced statements included in this columnist release. These risks and uncertainties include, but are not bound to, the actuality that the Company’s fourth division and budgetary anniversary banking closing procedures, anniversary accounting procedures and adjustments and anniversary analysis of its banking statements are not complete and accordingly absolute after-effects may alter from basic estimated results, the capability of the Company’s business campaigns, promotional strategies and chump databases, customer spending patterns, account levels and values, the Company’s adeptness to apparatus planned amount ascendancy measures, accustomed allowances from the absolute acreage access initiative, including amount accumulation and increases in efficiency, changes in adopted bill ethics about to the U.S. Dollar and the Company’s adeptness to absorb a new CEO. These and added factors that could account after-effects to alter materially from those declared in the advanced statements independent in this columnist absolution can be begin in the Company’s Anniversary Report on Form 10-K and in added filings with the SEC. Refer to the Company’s best contempo SEC filings for any updates apropos these and added risks and uncertainties that may affect the Company’s operations and performance. Undue assurance should not be placed on advanced statements, which are alone accepted as of the date they are made. The Aggregation assumes no obligation to amend or alter its advanced statements.
About Pier 1 Imports
Pier 1 Imports is committed to alms barter exclusive, one-of-a-kind articles that reflect aerial affection at a abundant value. Starting with a distinct abundance in 1962, Pier 1 Imports’ artefact is now accessible in retail food throughout the U.S. and Canada and online at pier1.com. For added advice about Pier 1 Imports or to acquisition the abutting store, amuse appointment pier1.com.
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