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Pier 1 Imports, Inc. Announces December Comparable Store Sales Increase of 8.2%

  Pier 1 Imports, Inc. Announces December Comparable Store Sales Increase of
  8.2%

Business Wire

FORT WORTH, Texas -- January 3, 2013

Pier 1 Imports, Inc. (NYSE:PIR) today reported that December comparable store
sales increased 8.2% for the five-week period ended December 29, 2012 compared
to a reported comparable store sales increase of 11.3% for the five-week
period ended December 31, 2011, representing a three-year cumulative
comparable store sales increase of 29.8%.

Alex W. Smith, President and Chief Executive Officer, commented, “We are very
pleased with our December comp store sales results, which reflect strong
traffic and an increase in average ticket. We experienced momentum in sales
throughout the month, including the days after Christmas, and sales were
strong across all geographic regions of the country. Importantly, we executed
our planned balance of regular and promotional pricing, enabling us to achieve
strong store-level margins that were comparable to last year. Our
direct-to-consumer business continues to build and performance at our new
stores is very strong. We remain confident that the long-term opportunity for
growth in both our e-Commerce business and our Pier 1 Imports stores is
significant. With our holiday clearance event winding down, we are excited
about our new spring assortments, which are arriving in stores this week.”

ICR XChange Investor Conference

The Company today announced that it is participating in the ICR XChange
Investor Conference being held January 15-17, 2013 at The Fontainebleau Hotel
in Miami Beach, Florida. Cary Turner, Senior Executive Vice President and
Chief Financial Officer of the Company, is scheduled to give a presentation on
Thursday, January 17, 2013.

Fourth Quarter and Fiscal 2013 Year-End Results

The Company will announce fourth quarter sales for the period ending March 2,
2013 on March 7, 2013. The Company will announce fourth quarter and fiscal
2013 year-end results for the period ending March 2, 2013 on April 11, 2013
and will host a conference call later that morning to discuss the results.

Financial Disclosure Advisory

Management’s expectations and assumptions regarding future results are subject
to risks, uncertainties and other factors that could cause actual results to
differ materially from the anticipated results or other expectations expressed
in the forward-looking statements included in this press release. Any
forward-looking projections or statements should be considered in conjunction
with the cautionary statements and risks contained in the Company’s Annual
Report on Form 10-K. Refer to the Company’s most recent SEC filings for any
updates concerning these and other risks and uncertainties that may affect the
Company’s operations and performance. The Company assumes no obligation to
update or revise its forward-looking statements even if experience or future
changes make it clear that any projected results expressed or implied will not
be realized.

Pier 1 Imports, Inc. is the original global importer of imported decorative
home furnishings and gifts. Information about the Company is available on
www.pier1.com.

Contact:

Pier 1 Imports, Inc.
Cary Turner, 817-252-8400
 
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