03/18/2005 - PIR
Pier 1 (PIR) is getting a lot of press these days. I don't know if you have noticed. The NYT had an article about how PIR pulled their ad campaign last season and now they are revamping the stores to make them less cluttered. A new ad campaign will be introduced too.
Looks like the institutions are taking a wait and see attitude. The stock is down over the last couple of days. I would not take this stock seriously until it starts trading over $19.97. It could make a quick move if it does hit that area.
It is a make or break time for PIR. They have had more excuses for their bad perfomance over the last year. I would think that management's credibility is starting to wear and tire the analysts and investors. Maybe the business model does not work anymore. Did anyone think of that? I mean, can't you buy the same crap at a Target or Wal-Mart? - and for less?
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