Pier 1 shares climb to 7-month high after NYSE OK

By Associated Press
May 5, 2009 | Comments (0)

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Shares of the home decor chain Pier 1 Imports Inc. climbed to a seven-month intraday high Tuesday, a day after the retailer announced it was no longer out of compliance with New York Stock Exchange trading regulations.

The Fort Worth company had been in danger of being delisted from the exchange because of its low trading price, after shares fell below $1 in mid-November.

But the retailer said late Monday that it was notified that its average stock price for 30 trading days ending April 30, was above the required threshold.

Pier 1 shares climbed 23 cents, or 11.5 percent, to $2.23 in morning trading Tuesday. Shares haven't traded that high since October.

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