INVESTOR ALERT: Investigation on Behalf of Investors of Pier 1 Imports, Inc. Announced by Law Offices of Howard G. Smith

Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Pier 1 Imports, Inc. (“Pier 1” or the “Company”) (NYSE:PIR) concerning possible violations of federal securities laws. The investigation is focused on the Company’s business and financial performance.

Pier 1 is engaged in the retail sale of decorative home furnishings, furniture, gifts and related products. The investigation is related to the Company’s February 10, 2015, announcement of revised financial guidance for the fiscal year ending February 28, 2015. Citing “softer than expected sales in January and February, as well as higher than forecast expenses, primarily related to incremental supply chain costs,” the Company now expects annual earnings of $0.80 to $0.83 per share, excluding some items, which is below analysts’ average estimates and down from previous guidance of $0.95 to $1.05 per share in the period.

In a separate press release, Pier 1 announced a management change: Senior Executive Vice President and Chief Financial Officer Charles H. Turner has retired, and Laura A. Coffey, a 17-year veteran of the Company, has been named Executive Vice President-Interim Chief Financial Officer, effective immediately. Following this news, shares of Pier 1 fell more than 24%, to a closing price of $12.84 per share on February 11, 2015, on extremely heavy volume.

If you purchased Pier 1 securities, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.

Law Offices of Howard G. SmithHoward G. Smith, [e-mail]