Pier 1 Imports Names Former Kmart Exec as CEO
Pier 1 Imports announced this week that Alasdair James will be taking over as president and CEO. Last year, Pier 1 ousted former CEO Alex Smith. James comes from Kmart, where he was president since 2014. Prior to Kmart, James had been an executive at Tesco PLC, a British multinational grocery retailer, since 2007 after working in international marketing for PepsiCo and GlaxoSmithKline. James’ “strong, consumer-focused background” was a draw for Pier 1, board chairman Terry E. London said in a press release.
Total Retail’s Take: James is joining Pier 1 as it's on a bit of a decline — the company reported a 3.4 percent drop in net sales in its 2017 fiscal year. Pier 1 operates more than 1,000 stores in North America, but plans to close about 100 through fiscal year 2019. The home furnishings retailer has, instead, been expanding its e-commerce business and concentrating on an advanced omnichannel strategy.