Pier 1 Dec. Sales Fall, Cuts Outlook
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Pier 1 Imports Inc. PIR.N on  Thursday said December sales at stores open at least year fell  8.8 percent, and the home furnishings retailer, struggling with  hefty competition, again cut its earnings outlook for the  fourth quarter.
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US retailers are expected to post modest November sales this week, with No. 1 retailer Wal-Mart Stores Inc. already cutting its holiday outlook on high oil prices and warmer weather.
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Sales at U.S. retailers fell 0.4  percent in December and were less vigorous in November than  previously thought, according to a government report on Tuesday  that implied costlier energy and slumping housing prices were  taking a toll on consumers.
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The retailer lowers its outlook after same-store sales fall.
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Stocks opened lower on Thursday after major retailers reported anemic sales growth in December, adding to worries about the economy.
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Home furnishings retailer Pier 1 Imports Inc.  said it no longer is in deal talks with a party that had expressed preliminary interest in the company, but an analyst said on Wednesday he still saw a strong possibility of someone bidding for the company.
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Circuit City Stores Inc. CC.N, the  No. 2 U.S. electronics retailer, on Wednesday posted a 5.8  percent drop in December sales at stores open at least a year  as customer traffic fell below year-ago levels.
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FORT WORTH, Texas -- Pier 1 Imports Inc., a home furnishings retailer, said Tuesday its second-quarter income fell 43.3 percent due to a 3 percent drop in stores open at least a year.
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Strong share price masks Pier 1's struggling same-store sales.
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Electronics retailer Circuit City Stores Inc  forecast a loss for the holiday season on Friday, citing store changes that were hurting sales, and its shares plummeted almost 25 percent to four-year lows.
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The company's sales fall, pulling down its stock price.
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Home furnishings retailer Pier 1 Imports Inc. said Wednesday its second-quarter loss widened on lower sales and various charges.
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Crucial US holiday sales launched with a flop, retailers reported.
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Many U.S. retailers are expected to  report disappointing December sales later this week, hurt by  everything from the challenging economy to unfavorable weather  to the calendar, which shifted more holiday sales to November.
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Electronics retailer Circuit City Stores Inc. said Monday its same-store sales fell 11.4 percent in December, as strength in the last two weeks of the month was not enough to offset earlier weakness.
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Bookseller Borders Group Inc.  BGP.N on Tuesday slashed its financial forecast, saying sales  were weaker than expected due in part to hurricanes, and that  profits during the key holiday season would miss Wall Street  estimates.
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NEW YORK (Billboard) - Just when it seemed erosion of music sales during the holiday season couldn't get worse, December snowstorms compounded the retail industry's misery.