Pier 1 raises $ 20 million a week in online sales to get out of business

Pier 1 raises $ 20 million a week in online sales to get out of business

The closure of the business has helped drive sales at Pier 1 Imports, The Post has learned.

The struggling vendor of glassware and wicker furniture has been raising around $ 20 million a week in online business closing sales, the CEO revealed in a bankruptcy hearing on Friday. That’s better than any of his Black Friday sales, he said.

“We are exceeding Black Friday levels,” Chief Executive Robert Riesbeck told the court during a hearing that resulted in the approval of the company’s liquidation plan.

One reason may be the low and low prices linked to your liquidation efforts. Quarantined shoppers have been able to snag outdoor furniture at a 40 percent discount, including a wicker patio set for $ 1,740; a couple of nesting mosaic tables for $ 75; and a wicker hanging chair for $ 180, the website shows. “Coming out of the business sale,” the website echoes in red and white letters.

The 58-year-old Fort Worth, Texas-based company hopes to reopen most of its remaining 540 stores by the end of June for more sales outside of business. Some 245 stores have already reopened, Riesbeck said.

The energetic online business bodes well for its brand’s upcoming Pier 1 auction, which can live like a digital-only business, sources said.

READ  "Fortnite" delays the end of season event due to protests by George Floyd

You May Also Like

Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

Leave a Reply

Your email address will not be published. Required fields are marked *