Pier 1 Imports
National retail chain offering home furnishing products.
100 Pier 1 Place
Fort Worth, TX 76102
CEO: Alex Smith
Stock Symbol: PIR
Pier 1 Imports is a national chain of stores with 1,032 locations in the U.S. and Canada. Pier 1 is dedicated to offering customers distinct, casual home furnishings and decor at a good value.
The store's merchandise assortment ranges from home accessories such as candles, vases and picture frames to full-sized, upholstered furniture, hand-carved armoires, large-scale vases and eclectic wall décor. As much as 75 percent of the merchandise assortment includes new product introductions each year so customers will see new products nearly every time they visit. Average store size is 8,000 square feet.
Pier One buyers help locate and import products from over 50 countries.
The company operates
regional distribution center facilities in or near Baltimore, MD; Columbus, OH; Fort Worth, TX;
Ontario, CA; Savannah, GA; and Tacoma, WA.
In fiscal 2016, Pier 1 reported revenues of $1.89 billion, a 0.4% increase, and net income of $39.6 million. E-commerce sales represented 4% of total revenue.
Pier One said it closed 33 net stores in fiscal 2016 and expects to close 20 locations in fiscal 2017.
Pier 1 Imports started as a single store in San Mateo, CA in 1962. Our first customers were post-World War II baby boomers looking for beanbag chairs, love beads and incense. Pier 1 has carried a wide selection of merchandise through the years, from chocolate covered ants to clothing lines to life-size Spanish suits of armor.
Pier 1 established its corporate headquarters in Fort Worth, TX in 1966. By then, there were 16 store locations with a merchandise mix of incense and other popular novelty items of the time.
In 1970, Pier 1 went public and became listed on the American Stock Exchange. It joined the New York Stock Exchange in 1972 under the stock symbol PIR. By this time, the company had 123 stores and was celebrating 100 percent sales gains for four consecutive years. The company expanded its international presence by adding stores in Australia and Europe.
Pier 1 acquired Cargo Furniture and Home in 2001. Established in 1981, Cargo Furniture and Home was originally a family-focused selection of casual furniture. The company changed the concept to Cargokids, a specialty retailer offering value-oriented, fashionable children's furniture and accessories. Originally known for its sturdy wooden Mission and Shaker designed children's beds, bookshelves, chairs and desks, the merchandise direction has now expanded to include niche products such as decorated drawer pulls, rugs and framed art in addition to conventional accessories such as lamps and bedding.
The company launched its e-commerce enabled website in July 2012.
- Healthy Expectations - A program allowing expectant mothers to speak with an experienced registered nurse on questions regarding their pregnancy.
- International Health Referral Service
Peace of Mind
- Employee Assistance Program (EAP) - A free and confidential service that provides counseling sessions to help associates cope with personal problems.
- LifeWorks - A confidential service giving telephone access to counselors and online access to free materials designed to help associates and their families manage commitments at work and at home.
- Short-Term and Long-Term Disability Insurance
- Life Insurance
- Accidental Death and Dismemberment Insurance
- Business Travel Accident Insurance
Time & Family
- Flexible Schedules
- Paid Holidays
- Paid Vacation
- Paid Personal Holidays
- Paid Jury Duty
- Paid Bereavement Leave
- Dependent Care Flexible Spending Account
- Gift for Newborns and Newly Adopted Children
- Family Medical Leave
- Pier 1 Discount - Great merchandise discounts at Pier 1 stores.
- 401(k) Plan
- Stock Purchase Program
- Educational Assistance
- Health Care Spending Account
- Paycheck Direct Deposit
- Federal Credit Union and Banking Benefits
Updated April 13, 2016