- Pier 1 Imports
Infobox_Company
company_name = Pier 1 Imports
company_
company_type = Public (NYSE|PIR)
company_slogan = "It's Your Thing."
foundation = 1962 (San Mateo, California )
location =Fort Worth, Texas
key_people = Alex W. Smith, CEO
Cary H. Turner, CFO
Andy Laudato, CIO
num_employees = 17,000
industry = Retail
products =Furniture
revenue = $1.86 billion USD
homepage = [http://www.pier1.com/?utm_source=wikipedia&utm_medium=wikipedia&utm_campaign=wikipedia www.pier1.com]Pier 1 Imports Inc. (NYSE|PIR) is a Fort Worth,
Texas -based retailer specializing in imported home furnishings and decor, particularlyfurniture , table-top items, decorative accessories and seasonal decor. The chain operates over 1,200 stores under the name Pier 1 Imports in theUnited States ,Canada ,Mexico andPuerto Rico . The company also had a children's furniture and accessories retail concept in the United States called Pier 1 Kids which was disbanded in September 2007. It was a member of the S&P MidCap 400 list through the end of 2006, when it was bumped off the list.The company was founded in 1962 in
San Mateo, California .Former spokespeople for the company, seen largely in broadcast commercials, include "
Cheers " alumnaKirstie Alley andThom Filicia of "Queer Eye for the Straight Guy ".History
The first Pier 1 Imports store opened in San Mateo, California in 1962. [http://www.pier1.com/company/history.aspx Company Website] ] According to [http://www.pier1.com/company/history.aspx the Company's official history] , the original store catered to
hippy baby boomers and featured love beads and incense.By 1966 Pier 1 had grown to 16 store locations, and established its corporate headquarters in Fort Worth, Texas.
Pier 1 went public on the
American Stock Exchange in 1970 and later joined theNew York Stock Exchange in 1972. At this time, the company had grown to 123 stores, posted 100 percent sales gains for four consecutive years, and opened stores internationally inAustralia andEurope .A Pier 1 store in Royal Oak, Michigan reached annual sales of $1 million in 1979. By 1985, the Pier 1 chain grew to 265 stores, with the management goal of doubling that number by 1990.
On
December 29 ,2006 Standard & Poor's bumped Pier 1 Imports Inc. down one spot and off the bottom of the S&P MidCap 400 Index when it addedParametric Technology Corp. (nasdaq2|PMTC), a software company. [http://www.marketwatch.com/news/story/sp-500-adding-spectra-energy/story.aspx?guid=%7B7606FFA6-0B5A-48C4-8492-5915370C243E%7D S&P changes makeup of indexes, Spectra set to become index component] , by Ana Campoy, MarketWatch, Dec 20, 2006]Merchandise
Pier 1 merchandise consists of home furnishings and items including accessories such as
candle s,vases andpicture frame s as well as full-sized upholsteredfurniture , hand-carvedarmoire s, large-scale vases and eclectic wall décor. Items are imported, created in conjunction with foreign designers, or produced by Pier 1's Trend and Product Development team. [ [http://www.pier1.com/SideMenu/Pressroom/AboutPier1Imports/tabid/154/Default.aspx www.pier1.com/SideMenu/Pressroom/AboutPier1Imports/tabid/154/Default.aspx] ]References
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