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Pier1 Imports- The out-of-the-box retail company that Décors your home uniquely
Originated from Texas, Forth Worth, United States the “Pier1 Imports” is one of the most popular and famous retail organisation that specializes in delivering imported creative and ‘edgy home furnishings and decor’. The organisation precisely deals in table top items, furnishing, seasonal decor, decorative accessories and furniture. The organisation has been precise and accurate in terms of ensuring a solid market reputation and ensuring substantial revenue. The organisation claims itself to be equipped with a quirky image that is coupled with an iconic logo that attracts its customer in the best possible manner.
How it started?
It was the year of 1962 when Pier1 Imports opened its first ever store in San Mateo. As the year passed by the organisation gradually developed and established its stores into the number of 16 and currently the store is operating with a fleet of 123 stores that helped it to gain 100% revenue for four consecutive years. During 1972, the organisation was listed on the NYSE (New York Stock Exchange). Later the organisation decided to venture internationally and it opened its first international store in Australia and Europe.
Current market value
Being one of the most preferred and creative home decor retail organisations, it currently stands at one of the topmost positions in the world. The organisation sells more than 6000 items that are imported from over 50 nations across globe. The list of products includes outdoor and indoor furniture, vases, lamps, ceramics, baskets, candles, dinnerware and others. In addition to this, the organisation supplies merchandise to more than 55 stores located across Mexico that is owned by Grupo Sanburns.
Currently the organisation operates near about 990 stores across 49 states of United States of America along with 80 other additional locations across Canada. The organisation also supplies licenses and merchandise its name to in-store departments at 47 sear stores particularly in Mexico and another in El Salvador.
Sales and Marketing
The organisation has been generous in terms of investment that it had been making for the purpose of developing its sales and marketing growth. Advertisement is one genre that the organisation has been precise in terms of investments. It invested significantly in the manner it has previously marketed its products across the fleet of its multiple stores. Precisely, the administration spent over $76.1 million particularly during the financial year of 2014, which was recorded to be $71.2 and $62.4 during 2013 and 2012, respectively.
For the obvious reasons the financial breakdown has also affected the growth and sustainability of the Pier1 Imports. However, the organisation has been quick and precise in terms of revolving from the decline and ensured an effective growth. This has resulted in a growth of 4% during the financial year of 2014, which in numbers was found to be $1.77 billion.
The net income changed to 17% year over year to $107.5 million, the Pier1 Imports logged its fifth consecutive year solidly in the black. Same store sales were then recorded to rise by 2% during the fiscal year 2014, after rising by 7% and 9% during 2013 and 2012 respectively. Sales per square foot, which has always been one important metric for the Pier1 that symbolizes emphasizing quality over quantity particularly within the retail operations amplified to $202 during fiscal year 2014 against $198 during the previous year 2013 and $184 during 2012.
Cash flow from the operations grew by nearly $35.2 million during the fiscal year of 2014 against 2013 to $159.2 million. These were driven by payment timings and others.
Pier1 Imports Properties For Sale Across the United States:
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