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Sees stronger sales and wider margins during fiscal second quarter
Pier 1 Imports Inc. (Fort Worth, Texas) reported a profit of $14.4 million, for the fiscal second quarter ended Aug. 28. That compares with a loss of $15.8 million in 2009. Revenue grew 8 percent to $310 million and same-store sales increased 11 percent after declining 7.6 percent a year earlier.
The home furnishings retailer reports merchandise margin widened to 58.3 percent from 52 percent, according to The Wall Street Journal.
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