Pier 1 Imports, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 1, 2018; Provides Capital Expenditures Guidance for the Year 2019
For the six months, the company reported net sales of $727,200,000 compared to $817,132,000 a year ago. Operating loss was $93,807,000 compared to $13,661,000 a year ago. Loss before income taxes was $99,788,000 compared to $18,714,000 a year ago. Net loss was $79,591,000 compared to $10,809,000 a year ago. Basic and diluted loss per share was $0.99 compared to $0.13 a year ago. Net cash provided by operating activities was $4,505,000 against net cash used in operating activities of $73,658,000 a year ago. Capital expenditures were $25,643,000 against $25,174,000 a year ago. LBITDA (Non-GAAP) was $68.1 million against EBITDA (Non-GAAP) of $14.5 million a year ago. Adjusted LBITDA (Non-GAAP) was $68.1 million against Adjusted EBITDA (Non-GAAP) of $21.1 million a year ago. Adjusted net loss (Non-GAAP) was 79.6 million against $7.2 million a year ago. Adjusted loss per share (Non-GAAP) was $0.99 against $0.09 a year ago.
The company expects capital expenditures to total approximately $60 million for the full yearof fiscal 2019 with $45 million of that supporting its strategic plan.