Pier 1 CEO to Cut Catalog, Pier 1 Kids FORT WORTH, Texas

Holy Crap!
I can't believe this!!!!! I'd be out of a job if I were still there!
I'm totally shocked. Why would anyone shut down their ecommerce site? The most anoying thing in the world is visiting a site for a store and finding that is just informational and you can't buy anything.

Pier 1 CEO to Cut Catalog, Pier 1 Kids FORT WORTH, Texas (June 21) -- In a series of radical moves, Pier 1 Imports Chief Executive Officer Alex Smith outlined plans to exit a spate of businesses: the catalog arm, the e-commerce business, Pier 1 Kids and its outlet stores, during a conference call to review first-quarter results.

These businesses, which Smith called “an albatross,” generate about $60 million in annual revenues, but “don’t have as good a return on investment as Pier 1,” Smith said.
As a result, the retailer will close a total of 100 stores this year, up from earlier estimates of 60 units.

It’s all part of Smith’s plan to focus on Pier 1’s core 1,020 stores, without “any distractions or excuses,” he said. Pier 1 will also discontinue television advertising, as well as catalog advertising and reduce couponing. In turn, the monthly mailers will be “the backbone” of the retailer’s advertising, he said.

The retailer will exit the e-commerce and catalog businesses by Aug. 31; shutter the 33 Pier 1 Kids stores by Oct. 31; and close the 24 clearance stores by July 31.
Pier1.com will only serve as a marketing vehicle. Smith said the moves should generate cost savings of about $150 million.