Pier 1 same-store sales slide; holiday starts well
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Pier 1 Imports Inc.  on Thursday  said November sales had fallen 15.3 percent at its stores open  at least a year, more sharply than expected, as aggressive  advertising and discounts failed to attract more shoppers.
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The holiday shopping season is off to a running start, according to surveys released this weekend, though it was still unclear how that will impact retailers' profits.
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Retail sales growth in the week after Thanksgiving fell to 3.1 percent, the slowest rate in four years, as consumers delayed holiday purchases to wait for discounts.
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U.S. shoppers came out in droves in November, but warm and wet weather, combined with steep holiday discounts, prompted less-than-stellar sales at many chains, retailers said on Thursday.
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U.S. retailers release May same-store sales figures that show an improvement from the previous month, but with some weakness.
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Excitement on Friday as the holiday shopping season got underway cooled before the weekend&#39;s close as cautious shoppers browsed and let many deals pass.
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Pier 1 Imports Inc.  on Thursday  said sales at stores open at least a year fell 6.6 percent in  May, its fourth straight month of declines, and the company  affirmed its quarterly loss forecast.
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The holiday shopping season began with a surge in spending, but consumers faded by the end of the long Thanksgiving weekend and many retailers were facing decent but hardly impressive sales.
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Crumbling consumer confidence and slumping home sales could prove to be a bad combination for retailers, and for the broader economy going into the holiday shopping season
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Pier 1 Imports Inc. posted a 40 per cent dive in profit for its latest quarter as slow store traffic and deep discounting hurt the home-furnishings retailer&#39;s bottom line.
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Business & money: Leading stores forecast shortfall in year's profits after shoppers cut back on festive spending
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Merchants are describing this year's holiday-season sales as a roller-coaster ride. That could hardly be said about the full-year sales experience. At least a roller coaster offers the contrast of intermittent highs and lows.
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U.S. retailers were on track to post  solid -- but not spectacular -- sales this holiday after a  last-minute dash to stores saved Christmas, according to retail  indices on Tuesday.
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U.S. shoppers came out in droves in  November, but warm and wet weather, combined with steep holiday  discounts, prompted less-than-stellar sales at many chains,  retailers said on Thursday.
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Pier 1 Imports Inc. , a home  furnishings retailer, on Thursday said its quarterly net loss  nearly doubled as same-store sales fell 6.6 percent.
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NEW YORK - The first holiday-shopping weekend of the year may have started with a bang, but it ended with a whimper, according to evidence yesterday from two groups that track sales.
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Steep discounts, combined with warm and wet weather, led to a less-than-stellar November sales for many chains, despite heavy shopper turnout for the kick-off of the holiday season, retailers said on Thursday.