Pier 1 Imports Aliso Viejo Store, Closing Up To 450 Locations

Aliso Viejo CA

21 January, 2020

3:33 PM

Description

ALISO VIEJO, CA — Pier 1 Imports, which has six locations in Orange County, is closing hundreds of stores, the company announced Monday. The retail chain said up to 450 locations — about half of its total — would be closed to "better align its business with the current operating environment." The company plans to close certain distribution centers and lower its corporate spending, as well as lay off workers at the corporate level. The home furnishing store is using a third-party liquidator to help with the closings, noting that its lenders signed off on its plan to reduce its brick-and-mortar footprint. Robert Riesbeck, CEO and CFO of the retail chain, thanked store workers for their hard work and commitment to serving customers. "Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision," he said in a statement. The planned closures come as the company deals with less foot traffic.Net sales for the third quarter plummeted more than 13 percent to $358.4 million. That number was $413.2 million in the same quarter for the previous fiscal year. Company comparable sales fell more than 11 percent compared to the same period a year ago. Here are the Pier 1 locations for Orange County: 32411 Golden Lantern, Laguna Niguel23620 El Toro Road, Lake Forest8156 East Santa Ana Canyon Road, Anaheim2710 Harbor Boulevard, Costa Mesa2395 East Imperial Highway, Brea18557 Main Street, Huntington BeachThe Pier 1 locations listed as closing in Orange County, according to LA Daily News, are: 763 S Main Street, Orange415 East Avenida Pico, San Clemente2822 El Camino Real, Tustin28371 Marguerite Parkway, Mission Viejo26771 Aliso Creek Rd, Aliso ViejoLast fall, Pier 1 announced up to 145 stores closings were possible in coming months. Founded with a single location in 1962, Pier 1 Imports currently operates 936 stores in the United States. Patch reporter Dan Hampton contributed to this report.