Pier 1 Imports, Inc. (PIR) announced that comparable store sales for month of September increased 9.9%, compared to a decline of 11.7% in September of last year. Third quarter merchandise margins continue to improve on a year-over-year basis as a result of significantly reduced markdown and clearance activity and strong input margins. Inventory levels are expected to peak at the end of the quarter at approximately $350 million.
The company expects that it will have the right during the month of October to terminate the conversion rights of the holders of the company's 9% convertible notes, which were issued during the second quarter. It is expected that the company will exercise that right. To date, about $15 million of the original $61.2 million bonds have either been converted or submitted for conversion into around 6 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.