Pier 1 Imports, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 28, 2016; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2017
The company provided earnings guidance for the second quarter and full year of fiscal 2017. For the quarter, the company expects comparable sales growth of negative 1% to positive 1%; Net sales growth to be negative 3% to positive 1%; loss per share to be $0.06 to flat.
For the full year, the company expects comparable sales growth of negative 1% to positive 1%; Net sales growth to be negative 3% to positive 1%; Earnings per share expected to be in the range of $0.32 to $0.40. Capital Expenditures to be approximately $55 million. The company expects effective tax rate to be approximately 39.5% and depreciation to be approximately $56 million. The company continue to expect the net interest expense will be up modestly year-over-year in fiscal 2017 in the range of $12 million.