Pier 1 Imports, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended February 25, 2017; Provides Earnings Guidance for the First Quarter of Fiscal 2018; Provides Earnings Guidance for the Fiscal 2018
For the year, the company reported net sales of $1,828,446,000 against $1,892,230,000 a year ago. Operating income was $54,862,000 against $75,208,000 a year ago. Income before income taxes was $45,259,000 against $63,165,000 a year ago. Net income was $30,129,000 against $39,634,000 a year ago. Earnings per share diluted were $0.37 against $0.46 per share a year ago. Net cash provided by operating activities was $115,738,000 against $164,047,000 a year ago. Capital expenditures were $44,181,000 against $51,813,000 a year ago. EBITDA (Non-GAAP) was $110.6 million against $125.2 million a year ago. Adjusted net income (non-GAAP) was $35.7 million or $0.44 per share.
For the first quarter, the company expects comparable sales growth of 1% to 2%. Loss per share of range between $0.07 to $0.03 per share. Net sales growth of Flat to 1%.
For the year, the company expects comparable sales growth of 1% to 2%. Earnings per share of range between $0.46 to $0.52 per share. Net sales growth of 2% to 3%. Capital expenditure of approximately $55 million.