Pier 1 Imports Closing 6 Connecticut Stores Including Danbury
The news looks grim for Danbury's Pier 1 Imports store.
Earlier this month, we reported that Pier 1 made the announcement they were closing half of their 950 stores across the country. At the time, there was no definitive word on the fate of the 14 Connecticut locations until now.
Over the last several days, outlets around the country have been reporting on the closings and it looks like 6 out of the 14 Connecticut Pier 1 stores are on the chopping block, including the Danbury location. According to Business Insider, the following are the six that are closing their doors in Connecticut, even though Pier 1 declined to comment:
- South Windsor
What has yet to be determined are the specific closing dates of each store. Robert Reisbeck, who was brought on board in November as the new CEO, said in a statement last week, “Fiscal third quarter sales and margins remained under pressure as we completed our efforts to clear out non-go-forward merchandise. Looking ahead, we believe that we will deliver improved financial results over time as we realize the benefits of our business transformation and cost-reduction initiatives. To further advance our progress, we are announcing additional actions today that will enable us to move forward with an appropriately sized store footprint and operating structure as an omni-channel retailer, and better position Pier 1 to meet our customers where they shop.”
In customer speak, he means profits are way down because they weren't able to keep pace with the world of online retail. Keep your eye out for those, "Everything Must Go" sales.