Picking Up Pier 1 Ahead of Earnings - trackseekingalpha

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Picking Up Pier 1 Ahead of Earnings
Sep 14, 2009 06:25 AM UTC

trackseekingalpha

Return	Risk
-11.17%	HIGH

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Symbol	Sentiment	Start	Return	Closed
PIR	n/a

Via Long Investment Ideas from Seeking Alpha:

Since bottoming at $.15 cents in March, Pier I Imports (PIR) stock has rallied over 1500% to its current price of $2.6 a share. Earnings are due on the 17th and we feel that PIR may be worth a very small allocation into the numbers for the following reasons.

First off, management recently announced that it will retire $69.5 million of $6.375 Convertible Senior Notes through the issuance of 9% Convertible Senior Notes and a payment of $5 million.

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