Pier 1 Earmarks Half its $75M CapEx Spend for Tech Investments
Technology and infrastructure investments will account for 50 percent of Pier 1 Imports’ $70 million to $75 million in planned capital expenditures this year. The retailer will have a lot of IT-enabled activity to show for its money. Two of the biggest elements are the July 28 launch of Pier 1's new e-commerce site and the planned rollout of its new point-of-sale system beginning this fall. "We're working diligently towards the implementation of our new point-of-sale system which we expect to pilot in a handful of stores this fall," said Pier 1 CEO Alexander Smith during a recent conference call.