Pier 1 Imports, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 2, 2018; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2019
The company provided earnings guidance for the second quarter and full year of fiscal 2019. For the second quarter of fiscal 2019, the company expects company comparable sales down 6% to 7%, net loss in the range of $43 million to $47 million, EBITDA in the range of negative $36 million to $40 million, and net loss per share between $0.54 and $0.58.
For the full year of fiscal 2019, the company expects company comparable sales growth of 1.5% to 2.5%, net loss in the range of $14 million to $29 million, positive EBITDA in the range of $30 million to $50 million and net loss per share between $0.17 and $0.36. The company was on track to spend approximately $60 million of CapEx for the full year, with $45 million of that supporting Pier 1 2021 strategic plan.