Pier 1 Imports FY 1Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“During the first quarter, we opened 6 stores and closed 3, ending the quarter with 1,065 Pier 1 Imports stores. That includes 985 locations in the U.S. and 80 in Canada, for a total of 8.4 million retail square feet.”

“Well, thanks for the question. I mean, as far as the weather is concerned, you’ve never heard us ever use weather as the reason for either good business or poor business, and we certainly wouldn’t do it this quarter. But your comments are absolutely right. We’ve had really very disruptive weather patterns throughout the spring and actually, in many, many markets. And that’s, of course, bound to have some impact.”

“the old POS system was 22 years old. I mean, it just, yes, it worked, but it’s very clunky, cumbersome, et cetera. And now we will have a system that’s touch screen. And most importantly, it acts as another PC in the store so you’ll be able to buy something online while you’re in the store that may not be there in the store.”

“with the new system, we can just build in much, much more functionality in terms of the POS system per se. And most importantly, we can link the POS system to the data we’re getting from our online business. So it means that when a customer’s in-store ultimately, and this is not next week, she will be able to do combined transactions, for example. So it could be — a transaction could include merchandise that was available in-store, it could be an online item and it could be an Express Request item. And that could all be done as one transaction”