INVESTOR ALERT: Investigation of Pier 1 Imports, Inc. Announced by Glancy Binkow & Goldberg LLP
February 12 2015 - 11:02AM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims on behalf of investors of Pier 1
Imports, Inc. (“Pier 1” or the “Company”) (NYSE:PIR) concerning
possible violations of federal securities laws. The investigation
is focused on certain statements issued by Pier 1 concerning the
Company’s business and financial performance.
Please contact Casey Sadler at (888) 773-9224 or (310) 201-9150,
or at shareholders@glancylaw.com to discuss this matter. If you
inquire by email please include your mailing address, telephone
number and number of shares purchased.
Pier 1 is engaged in the retail sale of decorative home
furnishings, furniture, gifts and related products. The
investigation is related to the Company’s February 10, 2015,
announcement of revised financial guidance for the fiscal year
ending February 28, 2015. Citing “softer than expected sales in
January and February, as well as higher than forecast expenses,
primarily related to incremental supply chain costs,” the Company
now expects annual earnings of $0.80 to $0.83 per share, excluding
some items, which is below analysts’ average estimates and down
from previous guidance of $0.95 to $1.05 per share in the
period.
In a separate press release, Pier 1 announced a management
change: Senior Executive Vice President and Chief Financial Officer
Charles H. Turner has retired, and Laura A. Coffey, a 17-year
veteran of the Company, has been named Executive Vice
President-Interim Chief Financial Officer, effective immediately.
Following this news, shares of Pier 1 fell more than 24%, to $12.85
per share, during after-hours trading on February 11, 2015.
If you purchased Pier 1 shares, if you have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Casey Sadler, Esquire, of
Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite
2100, Los Angeles, California 90067 at (310) 201-9150, Toll Free at
(888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit
our website at http://www.glancylaw.com. If you inquire by email
please include your mailing address, telephone number and number of
shares purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CACasey
Sadler310-201-9150888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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