Pier 1 Imports evaluating strategic alternatives
Pier 1 announced the following actions to enhance shareholder value and position the company for long-term growth and profitability: The company will narrow its strategic focus and hone execution to provide the distinctive Pier 1 style and value proposition desired by customers. The company is implementing a more rigorous cost reduction program expected to generate annualized expense savings beginning in fiscal 2020. The company will continue to manage day-to-day execution with the added resources of an internationally recognized consulting firm. Pier 1's board has initiated a process to evaluate a full range of strategic alternatives to enhance shareholder value and has retained Credit Suisse to assist in this effort.