Pier 1 Names Jeffrey Boyer CFO

Pier 1 Imports Inc. has appointed Jeffrey Boyer, formerly of Tuesday Morning Corp., as its chief financial officer, effective July 27.

Mr. Boyer, 57 years old, was formerly CFO at the Texas-based retailer. Tuesday Morning has hired an executive search firm to find a replacement for Mr. Boyer. Meanwhile, vice president and controller Kelly Munsch will take over the company's accounting and finance duties.

Mr. Boyer was also CFO and, later, chief operating officer, at 24 Hour Fitness Worldwide, and has held positions with Sears Holdings Corp. and Kmart.

"His broad retail background, which encompasses real estate, supply chain and IT, will be an asset to us as we continue to drive our financial transformation," said Pier 1 Chief Executive Alex Smith.

The home-goods retailer is in the midst of restructuring. In April, it announced plans to close an additional 100 stores over the next three years, mostly through lease expirations and relocations in a move it expects will reduce store-occupancy costs and payroll expenses. In the latest quarter, earnings fell 54% as higher costs and other expenses offset sales growth.

Shares of Pier 1, inactive premarket, have fallen about 21% this year through Monday's close.

Write to Angela Chen at [e-mail]

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