Pier 1 Q1 sales up, raises earnings forecast

Fort Worth, Texas -- Pier 1 Imports said Thursday its same-store sales rose 10.2% in the first quarter, helped by better traffic, more purchases being made and a higher average receipt. The retailer also gave a first-quarter earnings forecast above Wall Street's expectations. Total revenue for the period ended May 28 climbed 10% to $335 million from $306 million.