Major Price/Volume Alert: Pier 1 (PIR)

Posted in General 
July 1st, 2009

Pier 1 Imports Inc. (NYSE: PIR) saw a sudden spike higher late in the morning.  The company’ CEO spoke at an annual meeting and said that the first month of the new quarter is running better than internal projections.  The company has also approved a par value reduction to accommodate a reverse split as well; and it elected 8 members of the board.

He said a month ago after the loss report last month that Pier 1 traffic was gradually improving and that many sales declines were getting smaller.

Pier 1 shares are up 14% at $2.27 on over 1.3 million shares.  That now matches its average volume for a whole day and its 52-week range is $0.10 to $5.70.

Jon C. Ogg
July 1, 2009 (11:51 AM EST)

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