Pier 1 to Close 100 Stores Over Three Years

Pier 1 Imports Inc. suffered a big decline in profit in the fourth quarter and announced that it plans to close 100 stores as part of a three-year plan to "reduce occupancy costs." Pier 1 reported net income of $33.1 million in the fourth quarter of fiscal 2015, down 22 percent from $42.6 million the same quarter a year earlier. Expenses related to the retirement of the company's former CFO, as well as increased selling, general and