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Fly News Breaks for September 8, 2016
PIR
Sep 8, 2016 | 06:00 EDT
Raymond James analyst Budd Bugatch downgraded Pier 1 Imports to Market Perform from Strong Buy following the announcement that Alex Smith will step down as President and CEO and weak preliminary Q2 results. The analyst said furniture and home furnishing retail sales remain challenged and he cannot maintain a more constructive rating during a CEO transition.
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