Pier 1 Profit Rises 60% as Sales Increase

Pier 1 Imports Inc.’s fiscal second-quarter profit surged 60% as the largest U.S. retailer of imported home furnishings sold more items at full price and controlled costs.

Net income rose to $22.1 million, or 23 cents a share, from $13.8 million, or 14 cents, a year earlier. Sales increased 15% to $410.9 million.

Pier 1 shares fell 59 cents to $19.60 on the NYSE.