Prospector
Profile
07.1516
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| Pier 1 Imports, Inc. |
NAICS |
422290 |
| 100 Pier 1 Place
Fort Worth, TX 76102 |
Description |
Home Furnishings Retail |
| (817) 252-8000 |
Employees |
8500 |
| http://www.pier1.com/home.aspx |
Revenue |
(mil) |
1623.2200 |
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Income |
(mil) |
-227.6500 |
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Assets |
(mil) |
916.4700 |
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Liability |
(mil) |
555.3500 |
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(for the year ended 2007-03-31) |
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Category:
Low Rating
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Event:
Standard & Poor's Ratings Services lowered its ratings on Pier 1 Imports, Inc. to 'CCC+' from 'B-' and removed them from CreditWatch, where they had been placed with negative implications on Dec. 19, 2005. The outlook is negative. At the same time, Standard & Poor's withdrew all its ratings on Pier 1 at the company's request. "The downgrade reflects the company's continued extremely poor operating performance," said Standard & Poor's credit analyst Charles Pinson-Rose.
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Intellectual Property:
The Company owns a number of federally registered service marks under which Pier 1 and Pier 1 Kids stores do business. Additionally, certain subsidiaries of the Company have registered and have applications pending for the registration of certain other Pier 1 and Pier 1 Kids trademarks and service marks in the United States and in numerous foreign countries. The Company believes that its marks have significant value and are important in its marketing efforts. [SEC Filing 10-K 05-16-07]
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Description:
The Company operates as a specialty retailer of imported decorative home furnishings and gifts in the U.S., Canada, Mexico and Puerto Rico. The Company’s stores include three brand names: Pier 1 Imports, The Pier, and Pier 1 Kids.
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Officers:
Marvin J. Girouard (Chair & CEO); Charles H. Turner (EVP, Treas. & CFO); Susan E. Barley (Prin. Acctg. Officer); John H. Burgoyne (Dir.); Michael R. Ferrari (Dir.); James M. Hoak, Jr. (Dir.); Karen W. Katz (Dir.); Terry E. London (Dir.); Tom M. Thomas (Dir.)
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Auditor:
Ernst & Young LLP
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Securities:
Common Stock Symbol PIR; NYSE;
88,430,798 common shares outstanding as of Oct. 3, 2007.
6.375% convertible senior notes due 2036.
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