Curiously, extreme weather did not hurt other retailers' same-store sales. Wal-Mart's
Department stores did well, too. Old-time retailer J.C. Penney
For those thinking that warm clothing and the Super Bowl were behind the rising sales, consider Victoria Secret and Bath & Body Works parent Limited Brands
And by all indications, even the well-to-do managed to get out and spend. Neiman Marcus
So, why is it that everyone seems to be partying except Pier 1? Are its lambs' wool throws no longer warming the masses? Hard to say, but it does seem likely that Pier 1 needs to refresh its inventory and spruce up its image. Until it does, a 17 times earnings multiple seems a bit rich given forecasts of flat to "slightly positive" sales for February.
The good news is that Design Doctor Thom Filicia (Queer Eye for the Straight Guy) is set to appear nationally in the new Pier 1 ads. That may liven things up. Still, it might behoove investors to be fashionably late to this particular party.
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You can reach W.D. via email .