Pier 1 to Close 100 Stores

Pier 1 Imports (Ft. Worth, Texas) announced Wednesday it will close about 100 stores over the next three years.

The news comes after a disappointing fourth-quarter earnings report for the home-goods retailer, reports the Ft. Worth Star-Telegram.

“Fiscal 2015 clearly did not turn out as we had originally budgeted and we are very disappointed with the result,” said ceo Alex W. Smith in a statement. “Our job now is to use the strength of Pier 1 Imports brand and our investments in it to improve our profitability.”

Within three years the company said it expects to operate just under 1000 stores.