Pier 1 Imports
Jeffries, a research and strategy company, reported that 2018, for Pier 1, would be a “heavy investment year” as it would be handling its “sourcing, merchandising, pricing, marketing, store ops, e-com, and supply chain.” A 9.2 percent drop in the net sales was seen in the first quarter of 2018 which translates to $371.9 million year over year. Pier 1’s credit rating was also downgraded by S&P Global analysts. Oh no! What’s more? Trumps 10 percent tariff against Chinese goods is another card against them. Pier 1 once reported that over half of the goods they sell are made in China. Pier 1 needs a new solution to its problems, but we hope it won’t be the same as Lands’ End’s methods.
Pier 1
Lands’ End
This retail company specializes in clothing, luggage, and home furnishings. However, customers don’t seem to appreciate this anymore. According to CheatSheet, Lands’ End’s association with Sears is the original cause of its troubles. Sear’s went on another direction in 2013. The sales of the catalog items are strong, according to the website. However, Federica Marchionni, Lands’ End’s former CEO, made some fatal mistakes. According to CheatSheet, one such brand was the youthful Canvas brand which aimed to attract consumers who were fashion-forward. Canvas wanted to feature clothes in “designer styles to relaxed looks.” However, the brand, despite being trendy did not get its target clientele onboard. Our favorite guitar supplier may have better chances of recovering.
Lands’ End
