Pier One Imports Going Out of Business

[Forevermarypoppins]

Inevitable either now or later
SO overpriced go into any HomeGoods store and get something just as pleasing for a fraction of the cost.

 

[Cannot_Wait_4Disney]

A lot of our local Pier 1 stores were closing in January and February. We have a lot of their stuff in our house and liked their style. I was hoping downsizing would be enough, and without the pandemic it might have, but as much as I will miss them I'm not surprised.

JCP has never recovered from the disastrous reign of Ron Johnson. He was a case study in how to quickly erode brand value. They were having trouble before him but he really messed them up.

Sears is being purposely devalued so a venture capitalist can sell off the parts. It was a plan from day one.

Ron Johnson made one of the classic blunders, He went the full Montgomery Ward. Never go the full Montgomery Ward.

 

[peabody58]

And on an even sadder note, L Brands is closing all of the Victoria Secrets stores.

 

[Flight]

NOOOOOOOOOOOOOOOOOOOO!!!

One of my favorite stores to treat myself for something special for the house...

Yup, we bought a lot of nice things over the years for the home and for gifts. Pier One will be missed by this family.

 

[bcla]

And on an even sadder note, L Brands is closing all of the Victoria Secrets stores.

I don't think they're closing all their stores. Reports are that it's going to be about 25% of their stores in the US and Canada. I believe that all their stores were announced as being temporarily closed.

 

[ReneeA]

I love their furniture, but it's way too pricey for me. Funny story - when we bought our house, it had a large formal dining room that screamed for a large, formal table and chairs. However, we had just spent a ton on buying it, and then renovating the kitchen and bathrooms, so I couldn't justify spending a ton on a dining room set.

Soooooo, I perused Craigslist for something used I liked. Found the perfect set - an 8 foot table with 8 chairs. Gorgeous set, just a few scratches but in good shape for $300. The sellers were downsizing from their family home to a condo after retirement, and were super chatty and friendly. The husband was talking away about how this was such a heavy duty set, they had it for a long time, and his wife spent a "fortune" on it - like over a thousand dollars! She looked at me and asked if I shopped at Pier One. When I told her I loved their stuff but it was a bit pricey for us right now, she winked at me (very obviously) and told me she spent a thousand dollars on the set at Pier One.

My husband asked after we had it all packed in the truck what that wink was all about...and I had to explain that this woman told her husband that she spent a thousand dollars on it, but obviously spent at least 3x that much based on their prices, and wanted to make sure I knew where it came from.

 

[siren0119]

I don't think they're closing all their stores. Reports are that it's going to be about 25% of their stores in the US and Canada. I believe that all their stores were announced as being temporarily closed.

This is another one that doesn't hugely surprise me. We have a VS in a busy open air mall right near my house, I used to work in an office located above the shopping areas. That store was consistently empty or near-empty, while retail near it was often busy, or at least had some customers in it. I found that to be true of many of the VS stores in malls near me over the last year and a half, and it could just be that this area was oversaturated...but that's a good reason to pare down your store count.

 

[wildride]

And on an even sadder note, L Brands is closing all of the Victoria Secrets stores.

Nope, the are closing 250 stores in US & Canada. They are closing the under performing stores, only 53 in US. They have approx 1600 stores so I can see dumping store where rent is high & sales are down.

 

[bcla]

This is another one that doesn't hugely surprise me. We have a VS in a busy open air mall right near my house, I used to work in an office located above the shopping areas. That store was consistently empty or near-empty, while retail near it was often busy, or at least had some customers in it. I found that to be true of many of the VS stores in malls near me over the last year and a half, and it could just be that this area was oversaturated...but that's a good reason to pare down your store count.

Depends on the location. They're like any retailer that's constantly reassessing their locations. We have one rather popular outdoor mall where there's been turnover as long as it's been around. However, that one had a VS store that's doing quite well. I can't imagine that one being removed.

 

[okeydokey]

I was just on the Pier One website and their clearance prices are higher than any I would pay. I wonder if they will actually have a sale.

 

[Christine]

I was just on the Pier One website and their clearance prices are higher than any I would pay. I wonder if they will actually have a sale.

So last December, I went to a Pier One that was in the process of closing. I was looking for a sugar bowl and butter dish. Found them. Everything was at 15% for store closing. I liked them and they weren't too expensive so I just picked them up. One week later, I was at the Pier One near my house that was NOT part of the store closing and they had them on clearance for about 50% off. I was not a happy camper.

Store liquidation prices are never really good for some reason.