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Tag: Pier

Pier 1 relaunches as online store

Dive Brief: After acquiring Pier 1’s trademark name, intellectual property, data and e-commerce assets, new owner Retail Ecommerce Ventures (REV) is relaunching the retail brand as an online store, according to a Thursday press release. Pier 1 closed its brick-and-mortar stores earlier this year as part of its bankruptcy plan. As part of the relaunch, …

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Pier 1 enters agreement to sell off IP, other assets for $20M

Dive Brief: Pier 1 Imports, Inc. on July 1 entered into an agreement with Retail Ecommerce Ventures LLC and Pier 1 Imports Online, Inc. to sell all of its owned intellectual property, data and other e-commerce-related assets to Pier 1 Imports Online. Retail Ecommerce Ventures will serve as guarantor. Pier 1 sold its IP and related assets for …

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Pier 1 to close nearly half its stores as bankruptcy rumors persist

Pier 1 Imports on Monday said it intends to shut up to 450 locations, or almost half of its fleet of 942 stores, as it unexpectedly reported quarterly earnings amid bankruptcy rumors.  Pier 1’s losses have been mounting, as its sales decline. And this latest quarter was no exception. Its third-quarter loss widened from a year …

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Report: Pier 1 to shut more stores

Get great content like this right in your inbox. Subscribe Pier 1 Imports continues to struggle to turnaround its ailing business. The beleaguered home décor retailer is planning to announce a “significant” increase in store closings when it reports its third-quarter results this week, reported Bloomberg. The chain hopes to restructure out of court, although …

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Pier 1 gets new CEO — and more time from NYSE

Pier 1 Imports has tapped its finance head to do double duty. The struggling home décor retailer named Robert Riesbeck as CEO and a director of the company. Riesbeck, who joined Pier 1 in July as CFO, will also continue to serve in that position. As CEO, he replaces Cheryl Bachelder, who has acted as …

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Pier 1 Q2 loss doubles amid heavy clearance activity; sees ‘gradual recovery’

Pier 1 Imports posted another big quarterly loss as the retailer aggressively cleared out goods in anticipation of its merchandising and marketing reset, key elements of its turnaround strategy.  The struggling home décor chain reported a net loss of $100.6 million, or $24.29 per share, in the quarter ended August 31, which includes transformation costs …

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