#5 - Pier 1 Imports (OTCMKTS:PIRRQ)
Pier 1 Imports (PIR) - The retail recovery is not a reality for all companies. One example is Pier One (NYSE:PIR). It’s never good when a company issues a “going concern” warning. But that’s exactly what Pier One did when it released its third-quarter results. The omnichannel model is breathing new life into some retail outlets. But those companies that were slow to adapt are being left behind. The company ended the third quarter with just $11 million in cash and $336 million in debt. And any credit that the company has available to it will quickly be used up if the company continues on its current cash-burn rate. But Pier One has a plan. The company is shuttering nearly half of its current stores. It is also closing distribution centers and cutting corporate expenses. All of this may keep the company out of bankruptcy for a year or more. But what you should be looking for is a plan for growth, not just survival. Until it can do that, it’s a stock to stay away from.
About Pier 1 Imports
Pier 1 Imports, Inc engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. It offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrances, gifts, and seasonal items; and furniture and furniture cushions that are used in living, dining, office, kitchen and bedroom areas, sunrooms, and patios.
More- Current Price
- $0.00
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
