Changes, cost-cutting shoring up shaky Pier 1

Pier 1 Imports Inc., which has faltered for years amid stiff competition in home decor, is showing signs of new life, even if its shares aren't. Nine months into his tenure as chief executive, retailing veteran ...

[Earl]

Just another candidate for liquidation in 2008, No clear market position and too high a cost structure.

[John Randolph]

ALL of this is totally bogus. We're PIR stockholders and, recently, I encouraged my wife to actually take a job in one of their stores. She's 60 and she's working with teenagers. The store she works at is falling 60+% behind in sales targets. There's really nothing there to appeal to people. I was aghast that they didn't even have a single impulse item to buy on Black Friday '07. Nothing. it was just another retail day. WOW! I think mgmt. has lost touch with their customer base.
Believe me, I'm a Big Backer of Pier 1--but I am losing faith rapidly. Whatever this ballyhooed turnaround is all about better start showing itself--or else it's going to come across like a classic Dilbert cartoon! All pointy hair and no reality.

[Babushka]

John, I have to say I'm concerned as to WHERE all the merchandise is being housed at your wife's store!! We have impulse items all over the place and we are rapidly running low on most of them. Here in Dallas/Ft Worth we had several stores that posted gains well above LY on Black Friday and we are extremely excited about it! Perhaps it is not a matter of WHAT the items were.... but WHERE the items were!

John Randolph wrote:

ALL of this is totally bogus. We're PIR stockholders and, recently, I encouraged my wife to actually take a job in one of their stores. She's 60 and she's working with teenagers. The store she works at is falling 60+% behind in sales targets. There's really nothing there to appeal to people. I was aghast that they didn't even have a single impulse item to buy on Black Friday '07. Nothing. it was just another retail day. WOW! I think mgmt. has lost touch with their customer base.
Believe me, I'm a Big Backer of Pier 1--but I am losing faith rapidly. Whatever this ballyhooed turnaround is all about better start showing itself--or else it's going to come across like a classic Dilbert cartoon! All pointy hair and no reality.

[Sarina1014]

Babushka wrote:

John, I have to say I'm concerned as to WHERE all the merchandise is being housed at your wife's store!! We have impulse items all over the place and we are rapidly running low on most of them. Here in Dallas/Ft Worth we had several stores that posted gains well above LY on Black Friday and we are extremely excited about it! Perhaps it is not a matter of WHAT the items were.... but WHERE the items were!
<quoted text>

Babushka, like the rest of us, you can only speak for your store. The only impulse item that flew out the door in my store was the squish ball which was very slow to catch on but now that it has we are out of them. Seems most people get their gumball rings out of the gumball machine rather than paying $4.00 for them at a retail outlet. For the most part the customers are not feeling impulsive over our junk, oops meant to say impulse items. Epicurean is dead in the water as it has been since it arrived in the stores beginning in the Summer. Holiday Epicurean is somewhat of a better seller but overall a dog. Perhaps if we offered samples of food items like the COMPETITION does maybe we could actually sell some.

[Vikky]

Thats alright but i have overheard that Pier 1 stores is going to file chapter 11 by january 2008

is there any clarification to this

[jmc]

Vikky wrote:

Thats alright but i have overheard that Pier 1 stores is going to file chapter 11 by january 2008
is there any clarification to this

I have heard nothing.Where did you hear this?

[Curious]

You say that Epicurean is dead... what types of food product (just gumball rings???) is P1 attempting to sell and what should they be selling ?...or should they drop the whole epicurean effort? How would you suggest running that portion of the store?

Sarina1014 wrote:

<quoted text>
Babushka, like the rest of us, you can only speak for your store. The only impulse item that flew out the door in my store was the squish ball which was very slow to catch on but now that it has we are out of them. Seems most people get their gumball rings out of the gumball machine rather than paying $4.00 for them at a retail outlet. For the most part the customers are not feeling impulsive over our junk, oops meant to say impulse items. Epicurean is dead in the water as it has been since it arrived in the stores beginning in the Summer. Holiday Epicurean is somewhat of a better seller but overall a dog. Perhaps if we offered samples of food items like the COMPETITION does maybe we could actually sell some.

[babushka]

Just as an FYI... I have met the new buyer for Epicurean and she is a real "foodie" with tons of previous EPICUREAN buying experience. She has several ideas to boost the sales of our food products by introducing seasonal food items. Smaller qtys, more variety, faster sell through. The newer ideas she is looking at should start arriving later this Spring. The reason we don't offer samples is easy enough. When you do you are considered a Food Retailer and can be held to the same guidelines as restaurants. That would mean inspections, etc. I for one do not like the idea of sharing samples that everyone's possibly dirty hands etc have touched! Pass them by every time! No thank you!

Curious wrote:

You say that Epicurean is dead... what types of food product (just gumball rings???) is P1 attempting to sell and what should they be selling ?...or should they drop the whole epicurean effort? How would you suggest running that portion of the store?
<quoted text>

[jmc]

babushka wrote:

Just as an FYI... I have met the new buyer for Epicurean and she is a real "foodie" with tons of previous EPICUREAN buying experience. She has several ideas to boost the sales of our food products by introducing seasonal food items. Smaller qtys, more variety, faster sell through. The newer ideas she is looking at should start arriving later this Spring. The reason we don't offer samples is easy enough. When you do you are considered a Food Retailer and can be held to the same guidelines as restaurants. That would mean inspections, etc. I for one do not like the idea of sharing samples that everyone's possibly dirty hands etc have touched! Pass them by every time! No thank you!
<quoted text>

Eppie does allright for us.I hate the stuff but thats my personal opinion.What I really want to see go is fall easter and halloween.It never does jack in any store I have ever worked for.Maybe its a florida thing.Every year it collects dust and we are stuck with it until it goes 75% off.I will give my next check and my left nut if we can get rid of that crap!!!

[AM Detroit]

jmc wrote:

<quoted text>
Eppie does allright for us.I hate the stuff but thats my personal opinion.What I really want to see go is fall easter and halloween.It never does jack in any store I have ever worked for.Maybe its a florida thing.Every year it collects dust and we are stuck with it until it goes 75% off.I will give my next check and my left nut if we can get rid of that crap!!!

as much as I hate to see Easter come back like it was several years ago, that is all our customers want to see come back. All the eggs, all the dust collecting figurines. I sure hope they actually buy what they say they wanted cuz it's a comin'.

[jmc]

AM Detroit wrote:

<quoted text>
as much as I hate to see Easter come back like it was several years ago, that is all our customers want to see come back. All the eggs, all the dust collecting figurines. I sure hope they actually buy what they say they wanted cuz it's a comin'.

Wonders never cease.

[finally out of P1]

What's going on in the stores? I have to say that I was pleasantly surprised when I saw the stock @$6.54. I will finally make a little money back.

[ARC]

As a sales associate here in the Midwest, we sell a lot of the seasonal decorative items. At the same time we have had merchandise that we couldn't give away, and crowds the sales floor. PI needs a method of removing slow moving merchandise from the sales floor quicker. PI stores need to be kept fresh, and attractive at all times to keep attracting that upscale customer. YES my PI store has excellent demographics that are looking for fresh new trends in home decorating and entertaining. Fun place to work, like the merchandise, and make no real income, but that is retail. PI should train associates on basic home decorating, colors, and trends. Amazed at how many of my customers think of me as an interior designer. I have had formal education in interior design, but not all the associates have this back ground.

[jmc]

ARC wrote:

As a sales associate here in the Midwest, we sell a lot of the seasonal decorative items. At the same time we have had merchandise that we couldn't give away, and crowds the sales floor. PI needs a method of removing slow moving merchandise from the sales floor quicker. PI stores need to be kept fresh, and attractive at all times to keep attracting that upscale customer. YES my PI store has excellent demographics that are looking for fresh new trends in home decorating and entertaining. Fun place to work, like the merchandise, and make no real income, but that is retail. PI should train associates on basic home decorating, colors, and trends. Amazed at how many of my customers think of me as an interior designer. I have had formal education in interior design, but not all the associates have this back ground.

Actually Pier 1 was a lot more assertive in training us in designing.Nothing too rigorous just basic color stuff and use of spaces.We use to get pamphlets and other training brochures to help us along.I think we went away from that because of the cost.As good as we think we are it is just to unrealistic for customers to think of us as decoratores especially with a vague description of the room they are working on or some blurry picture off of their camera.

[haven]

c'mon guys sell the merchandise. Put the price at one dollar and ill come by and clear the floor for your next decorations

[jmc]

haven wrote:

c'mon guys sell the merchandise. Put the price at one dollar and ill come by and clear the floor for your next decorations

Hey go to walmart or family dollar where you get the rest of your stuff.

[haven]

jmc wrote:

<quoted text>
Hey go to walmart or family dollar where you get the rest of your stuff.

Its better the one dollar than collecting dust.

[shoppingbag]

i am new to Florida and I wonder what other stores florida has that are similar to to Jysk or Pier 1 in product lines? Jysk has more linens etc and a bigger selection of intersting housewares and decor. Jysk is also considerably lower priced than Pier 1 but apparently they aren't anywhere in the U.S. I'm wondering if there already is a chain like them in the U.S. Especially interested in the Tampa area.

[AM Detroit]

anyone else have a problem with the company changing everyone to a 25% discount? I don't mind going from 30 to 25, but I don't see the cost saving of bringing everyone up from 20 to 25. With the high turnover right now, they would save a lot more by keeping the entry discount at 20%. Then raise them up to 25% after 2 years service. Give them something to look forward to.

[BA NEW YORK]

is anyone out there feeling a change in attitude from thier managers? In our store,it seems the associates can never do enough or do it correctly.Im feeling less appreciated as piers profits increase.