Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), reminds investors that they have until October 26, 2015 to file lead plaintiff applications in a securities class action lawsuit against Pier 1 Imports, Inc. (NYSE:PIR) (“Pier 1”) if they purchased Pier 1 shares between December 19, 2013 and February 10, 2015, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Texas. If you are a Pier 1 shareholder, you are encouraged to contact Scott+Scott for additional information.

Pier 1 (NYSE:PIR) is a retailer of decorative home furnishings and gifts imported from countries around the world. Pier 1 maintains over 1,000 stores in the United States and Canada and operates as one segment consisting of the retail sales of decorative home furnishing, furniture, gifts and related items.

On February 10, 2015, Pier 1 surprised investors by reducing its financial guidance for the fiscal year ending February 28, 2015. Pier 1 blamed the sudden change in its outlook on softer than expected sales in January and February 2015 and "unplanned" expenses, primarily related to incremental supply chain costs. Pier 1 also announced that the Company's Chief Financial Officer Charles H. Turner – a 23 year veteran with Pier 1 – had "retired."

On this news, shares of Pier 1 plummeted to $12.84, or approximately 25%, on trading of over thirty-six million shares.

What You Can Do

If you are a Pier 1 shareholder and wish to serve as a lead plaintiff in the action, you must move the Court no later than October 26, 2015. Any member of the class may move the Court to serve as lead plaintiff through counsel of its choice or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537) or visit the Scott+Scott website for more information: http://www.scott-scott.com.

About Scott+Scott, Attorneys at Law, LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.