Home decor chain shuttering Tavernier store
January 22, 2020
TAVERNIER — The Pier 1 Imports store in Tavernier Towne will not survive the company’s latest cost-cutting move.
“Store Closing” signs were posted last week as the mile marker 91.2 location started its going-out-of-business sale with 30% markdowns on all items.
Nationally, Pier 1 “intends to reduce its store footprint by up to 450 locations,” nearly half of the chain’s 942 stores, a company statement said.
The Pier 1 on North Roosevelt Boulevard in Key West apparently will stay open along with about 60 other Florida locations.
No information was available on how long the Tavernier store would remain open. It has already disappeared from the Pier 1 website page that lists store locations.
Staff at the Pier 1 in Tavernier Towne said they could not comment on the closing and referred a reporter to the company’s headquarters in Fort Worth, Texas.
An operator at the corporate office said, “There is not anyone to speak with you at this time.” She offered to take a message but the call disconnected in mid-sentence.
National news outlets noted the home-decor company has been struggling in recent years with six straight quarterly losses and two years of declining sales. Analysts suggested online shopping and Pier 1’s mid-market offerings contributed to the setbacks.
“Looking ahead, we believe that we will deliver improved financial results over time as we realize the benefits of our business transformation and cost-reduction initiatives,” Robert Riesbeck, Pier 1 chief executive officer, said in a statement.
“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. “We thank our team of hard-working associates for their commitment to Pier 1 and to serving our customers.”
In addition to the Tavernier closing, six other Pier 1 stores in Florida shuttering operations reportedly include two in Tampa and one each in Orlando, Largo, Atlantic Beach and Pompano Beach.