The destination store for wicker furniture and stylish stemware will close nearly half of all its brick-and-mortar locations in 2020, including one in El Paso.
Pier 1 Imports will close up to 450 locations nationwide in an effort to better align the business to the current industry environment, officials said in a news release. Pier 1 will also close some distribution centers and reduce corporate expenses.
There are three Pier 1 stores in El Paso. The retailer will close the Pier 1 at the Fountains at Farah on the Eastside. Store employees said they do not yet have a closing date.
“Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision,” Robert Riesbeck, Pier 1 CEO and CFO, said in a statement. “We thank our team of hard-working associates for their commitment to Pier 1 and to serving our customers.”
Pier 1’s net sales in the third quarter of fiscal year 2020 were down by 13.3% to $358 million, officials said.