March 24, 2020 / 5:08 PM / 5 days ago

BRIEF-Pier 1 Takes Additional Actions To Preserve Liquidity In Response To Covid-19

March 24 (Reuters) - Pier 1 Imports Inc:

* PIER 1 TAKES ADDITIONAL ACTIONS TO PRESERVE LIQUIDITY IN RESPONSE TO COVID-19

* PIER 1 IMPORTS INC - IMPLEMENTING A FURLOUGH PROGRAM ACROSS ITS BUSINESS

* PIER 1 - IMPLEMENTING FURLOUGH PROGRAM ACROSS BUSINESS, INCLUDING FOR ABOUT 65% OF HOME OFFICE ASSOCIATES, CERTAIN STORE, DISTRIBUTION ASSOCIATES

* PIER 1 IMPORTS INC - IN CONNECTION WITH ITS FURLOUGH PROGRAM, COMPANY IS REDUCING COMPENSATION BY 20 PERCENT FOR RETAINED ASSOCIATES

* PIER 1 IMPORTS INC - ALL REDUCTIONS IN PAY ARE ALSO EFFECTIVE AS OF MARCH 23, 2020

* PIER 1 IMPORTS - COMPENSATION FOR ALL MEMBERS OF PIER 1 BOARD WILL BE REDUCED OR DEFERRED BY 50%

* PIER 1 IMPORTS INC - AT CORPORATE LEVEL, REDUCING PAY FOR EXECUTIVE VPS AND ABOVE BY 50%, AND REDUCING COMPENSATION FOR SENIOR VPS BY 30%

* PIER 1 TAKES ADDITIONAL ACTIONS TO PRESERVE LIQUIDITY IN RESPONSE TO COVID-19 Source text for Eikon: Further company coverage:

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