Home decor retailer Pier 1 Imports Inc. said Thursday it expects fourth-quarter earnings to top analysts' expectations as it sold more goods at full price.
Shares rose 23 cents, or 3 percent, to $7.06 during afternoon trading, and reached a 52-week high of $7.20 earlier in the session.
For the quarter ended Feb. 27, Pier 1 expects a profit of 29 cents per share, compared with a loss of 33 cents per share in the year-ago period. The company said quarterly sales rose 2 percent to $396 million from $389 million, with sales in stores open at least one year up 6.5 percent.
Analysts polled by Thomson Reuters, on average, expect a profit of 25 cents per …
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