Pier 1 Imports Plans To Close Nearly Half Its US Stores; Unclear If Maryland Locations Included
FORT WORTH, Texas (WJZ) -- Home furnishings store Pier 1 Imports announced Monday it will close nearly half of its U.S. stores amid declining sales.
The Fort Worth, Texas-based retailer reported a 13.3 percent drop in net sales in the third quarter of fiscal year 2019, with company comparable sales also down more than 11 percent primarily due to lower traffic.
Pier 1 said it will close up to 450 of its 942 stores and some distribution centers as well as reduce its corporate staff. The company did not immediately say which locations would close.
"In order to maintain the same high standards customers have come to expect and ensure a seamless experience for customers at these locations, the Company is utilizing the services of a third-party liquidator to help manage the store closings," Pier 1 said in a news release.
The retailer has 19 locations in Maryland, according to its website.
WJZ has reached out to the company to see if any local stores are among those that will close.
