Pier 1 Imports (NYSE: PIR ) has cut full-year guidance for the second time in as many months. Like many other retailers, it blames the exceptionally severe winter weather for the reduced foot traffic that the company experienced this winter. Pier 1 was even forced to close some of its locations temporarily, which hurt the company's sales even further.
In this segment from Friday's Investor Beat, host Chris Hill and Motley Fool analyst Ron Gross discuss Pier 1, and the trend of retailers citing the weather for this quarter's troubles. They also talk about why the market gives some companies a pass with this excuse, but why it didn't let Pier 1 off the hook this time.
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