Filed under: Industry, Competitive strategy, Recession
Back in February, Pier 1 Imports (NASDAQ: PIR) announced that it would close up to 125 underperforming stores, depending on its ability to renegotiate leases with landlords.
A month and a half later, the tough economy is paying off for Pier 1 -- at least in its efforts to negotiate with landlords. The company announced yesterday that it will close fewer than 80 stores -- a drop of at least 30% from the original number.
Continue reading Recession holds a silver lining for Pier 1 Imports -- for now
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