Pier
1 Imports
National retail chain
offering home furnishing products.
Headquarters:
100 Pier 1 Place
Fort Worth, TX 76102
Employees: 7,100
CEO: Alex Smith
Stock Symbol: PIR
Website:
http://www.pier1.com
Career
Site
Pier 1 Imports is a national chain of stores with almost 1,073 locations in the U.S. and Canada. Pier 1 is dedicated to offering customers distinct, casual home furnishings and decor at a good value.
The store's merchandise assortment ranges
from home accessories such as candles, vases and picture frames
to full-sized, upholstered furniture, hand-carved armoires, large-scale
vases and eclectic wall décor. As much as 75 percent
of the merchandise assortment includes new product introductions
each year so customers will see new products nearly every
time they visit.
The company's buyers help locate and import
products from over 50 countries.
Sales at the company have struggled over the past few years. The company expects to close 50 more stores by 2010.
In fiscal 2009, Pier 1 reported revenues of $1.32 billion and a loss of $129.2 million.
History
Pier 1 Imports started as a single
store in San Mateo, CA in 1962. Our first customers were post-World
War II baby boomers looking for beanbag chairs, love beads and
incense. Pier 1 has carried a wide selection of merchandise
through the years, from chocolate covered ants to clothing lines
to life-size Spanish suits of armor.
Pier 1 established its corporate headquarters
in Fort Worth, TX in 1966. By then, there were 16 store locations
with a merchandise mix of incense and other popular novelty items
of the time.
In 1970, Pier 1 went public and became
listed on the American Stock Exchange. It joined the New York
Stock Exchange in 1972 under the stock symbol PIR. By this time,
the company had 123 stores and was celebrating 100 percent sales
gains for four consecutive years. The company expanded its international
presence by adding stores in Australia and Europe.
Pier 1 acquired Cargo Furniture and
Home in 2001. Established in 1981, Cargo Furniture and Home was
originally a family-focused selection of casual furniture. The
company changed the concept to Cargokids, a specialty retailer
offering value-oriented, fashionable children's furniture and
accessories. Originally known for its sturdy wooden Mission and
Shaker designed children's beds, bookshelves, chairs and desks,
the merchandise direction has now expanded to include niche products
such as decorated drawer pulls, rugs and framed art in addition
to conventional accessories such as lamps and bedding.
The company decided to change Cargokids
to Pier 1 Kids by March 2005.
Benefits
Health
- Medical
- Dental
- Vision
- Healthy Expectations - A program allowing expectant mothers
to speak with an experienced registered nurse on questions regarding
their pregnancy.
- International Health Referral Service
Peace of Mind
- Employee Assistance Program (EAP) - A free and confidential
service that provides counseling sessions to help associates
cope with personal problems.
- LifeWorks - A confidential service giving telephone access
to counselors and online access to free materials designed to
help associates and their families manage commitments at work
and at home.
- Short-Term and Long-Term Disability Insurance
- Life Insurance
- Accidental Death and Dismemberment Insurance
- Business Travel Accident Insurance
Time & Family
- Flexible Schedules
- Paid Holidays
- Paid Vacation
- Paid Personal Holidays
- Paid Jury Duty
- Paid Bereavement Leave
- Dependent Care Flexible Spending Account
- Gift for Newborns and Newly Adopted Children
- Family Medical Leave
Your Money
- Pier 1 Discount - Great merchandise discounts at Pier 1
and Cargokids! stores.
- 401(k) Plan
- Stock Purchase Program
- Educational Assistance
- Health Care Spending Account
- Paycheck Direct Deposit
- Federal Credit Union and Banking Benefits
- Holiday Gift Dollars - Receive free "dollars" every
November to purchase holiday gifts from Pier 1 and Pier 1 Kids
stores.
Updated August 22, 2009
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