Retail Veteran Joins Pier 1 Imports Leadership Team as Head of Global Sourcing
December 13 2017 - 4:15PM
Business Wire
Pier 1 Imports, Inc. (NYSE:PIR) today announced the appointment
of William H. Savage, 54, to the newly created position of
Executive Vice President of Global Sourcing, effective December 7,
2017.
“William brings 20 years of experience from highly-respected
consumer brands and the leadership and technical expertise to
elevate our sourcing operation,” said Alasdair James, President and
Chief Executive Officer. “His diverse skill set and deep experience
in both sourcing and home furnishings will be invaluable as we set
our new strategic course for the Pier 1 Imports brand. Sourcing,
supply chain and inventory management are among the critical
elements of our future plans to drive efficiency and improve
long-term profitability, and we look forward to William’s
contributions.”
Mr. Savage comes to Pier 1 Imports with retail and sourcing
experience spanning world class businesses in global markets,
including Tesco, Walmart, Sears and Kingfisher. Most recently, Mr.
Savage spent two years as President of the Home Division for Sears
Holdings (NASDAQ:SHLD), where he was credited with driving sales
and profit improvement, reducing expenses and lowering inventory
levels. Previously, he was Executive Commercial Director for
apparel, home, hardlines and electronics at Tesco PLC (LON:TSCO) in
China, where he was responsible for sourcing, merchandising, brand
development, and promotional and inventory planning. Prior to that,
Mr. Savage was Executive Vice President & Chief Merchandising
Officer, Retail, for Walmart (NYSE:WMT) India. Earlier in his
career, he held senior leadership positions with Metro Cash &
Carry International in Vietnam and Kingfisher PLC in China, Korea
and the U.K. Mr. Savage holds a degree in retail strategy from
Monash University in Brisbane, and an MBA from Middlesex University
in London.
Mr. Savage will report to President and CEO, Alasdair James.
Financial Disclosure Advisory
Except for historical information contained herein, the
statements in this press release or otherwise made by our
management in connection with the subject matter of this press
release are forward-looking statements (as such term is defined in
the Private Securities Litigation Reform Act of 1995) and involve
risks and uncertainties and are subject to change based on various
important factors. This press release includes forward-looking
statements that are based on management’s current estimates or
expectations of future events or future results. These statements
are not historical in nature and can generally be identified by
such words as “believe,” “expect,” “estimate,” “anticipate,”
“plan,” “may,” “will,” “intend” and similar expressions.
Management’s expectations and assumptions regarding future results
are subject to risks, uncertainties and other factors that could
cause actual results to differ materially from the anticipated
results or other expectations expressed in the forward-looking
statements included in this press release. These risks and
uncertainties include, but are not limited to: the effectiveness of
the Company’s marketing campaigns, merchandising and promotional
strategies and customer databases; consumer spending patterns;
inventory levels and values; the Company’s ability to implement
planned cost control measures and its three-year strategic plan;
expected benefits from the real estate optimization initiative,
including cost savings and increases in efficiency; risks related
to U.S. import policy; and changes in foreign currency values
relative to the U.S. Dollar. These and other factors that could
cause results to differ materially from those described in the
forward-looking statements contained in this press release can be
found in the Company’s Annual Report on Form 10-K and in other
filings with the SEC. Refer to the Company’s most recent SEC
filings for any updates concerning these and other risks and
uncertainties that may affect the Company’s operations and
performance. Undue reliance should not be placed on forward-looking
statements, which are only current as of the date they are made.
The Company assumes no obligation to update or revise its
forward-looking statements.
About Pier 1 Imports
Pier 1 Imports is dedicated to offering customers exclusive,
one-of-a-kind products that reflect high quality at a great value.
Starting with a single store in 1962, Pier 1 Imports’ product is
now available in retail stores throughout the U.S. and Canada and
online at pier1.com. For more information about Pier 1 Imports or
to find the nearest store, please visit pier1.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171213006124/en/
Investor Relations Contact:The Blueshirt GroupChristine Greany,
858-523-1732
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