Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

UBS Downgrades Pier 1 to Reduce from Neutral


UBS Financial downgraded Pier 1 Imports (PIR) to reduce from neutral, explaining that there are no signs of fundamental business improvement.

Analyst Brian Nagel believes that a challenging macroeconomic and competitive environment will weigh on Pier 1 for the next several quarters. He thinks November sales numbers due out Thursday will fall below market estimates and believes structural shifts in the company's home fashion market will continue to impede the company's turnaround efforts, limiting potential for significant upside in the foreseeable future. He cut his 15 cents third quarter earnings per share estimate to 5 cents, his 27 cents fourth quarter earnings per share estimate to 22 cents, and his 16 cents fiscal year 2006 (ending February) earnings per share estimate to breakeven.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus