=Pier 1 Imports (PIR) reported earnings on Wed 27 June 2018 (a/h)

Pier 1 Imports beats by $0.03, reports revs in-line; guides Q2 EPS below consensus; affirms FY19 EPS in-line 

• Reports Q1 (May) loss of $0.36 per share, $0.03 better than the Capital IQ Consensus of ($0.39); revenues fell 9.2% year/year to $371.9 mln vs the $375.45 mln Capital IQ Consensus. Company comparable sales decreased 8.2% versus the year-ago period and company guidance of down 7% to 8%.
  • Gross profit was 32.3% of net sales, compared to 37.0% of net sales in same period a year ago.  
• Co issues downside guidance for Q2, sees EPS of ($0.58)-($0.54) vs. ($0.21) Capital IQ Consensus Estimate. Company comparable sales expected to be (7.0%) to (6.0%)
• Co issues in-line guidance for FY19, sees EPS of ($0.36)-($0.17) vs. ($0.31) Capital IQ Consensus Estimate. Company comparable sales expected to be up 1.5% to 2.5%.