April 19, 2018 / 10:56 AM / 7 months ago

BRIEF-Pier 1 Imports Sees Q1 Company Comparable Sales Down 8% To 7%

April 19 (Reuters) - Pier 1 Imports Inc:

* PIER 1 IMPORTS ANNOUNCES THREE-YEAR STRATEGIC PLAN AT ITS ANALYST DAY

* PIER 1 IMPORTS INC - AS RESULTS OF PLAN ARE FULLY REALIZED IN FISCAL 2021, EXPECT TO ACHIEVE SUSTAINABLE NET SALES GROWTH OF 4% TO 6%

* PIER 1 IMPORTS INC - CAPITAL INVESTMENTS IN FISCAL 2019 ARE EXPECTED TO TOTAL $60 MILLION

* PIER 1 IMPORTS INC - AS RESULTS OF PLAN ARE FULLY REALIZED IN FISCAL 2021, EXPECT TO ACHIEVE EBITDA MARGIN OF 6% TO 8%

* PIER 1 IMPORTS INC - SEES Q1 COMPANY COMPARABLE SALES DOWN 8.0% TO 7.0%

* PIER 1 IMPORTS - AS RESULTS OF PLAN ARE FULLY REALIZED IN FISCAL 2021, EXPECT TO ACHIEVE EARNINGS PER SHARE IN RANGE OF $0.60 TO $0.70

* PIER 1 IMPORTS INC - SEES FULL YEAR FISCAL 2019 COMPANY COMPARABLE SALES 1.5 PERCENT TO 2.5 PERCENT

* PIER 1 IMPORTS INC - SEES Q1 NET LOSS $33 MILLION TO $30 MILLION

* PIER 1 IMPORTS INC SEES FULL YEAR FISCAL 2019 LOSS PER SHARE $0.17 - $$0.36

* PIER 1 IMPORTS INC - SEES Q1 LOSS PER SHARE $0.41 TO $0.37

* PIER 1-MADE STRATEGIC DECISION TO DISCONTINUE QTRLY DIVIDEND OF $0.07/SHARE, EXPECTED TO CONTRIBUTE ABOUT $22 MILLION OF INCREMENTAL CASH FLOW IN FISCAL 2019 Source text for Eikon: Further company coverage:

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