First St. Cloud, Now Other MN Pier 1 Imports at Risk of Closing
One month after it was announced St. Cloud's Pier 1 Imports will be closing, other Minnesota stores are at risk of closure in 2020 as well.
That news came Monday as the Texas-based home decor store revealed their third quarter financial results of 2019, reflecting a loss in sales and shares in 2019.
“Fiscal third quarter sales and margins remained under pressure as we completed our efforts to clear out non-go-forward merchandise," said Robert Riesbeck, Pier 1’s Chief Executive Officer and Chief Financial Officer. "To further advance our progress, we are announcing additional actions today that will enable us to move forward with an appropriately sized store footprint and operating structure as an omni-channel retailer, and better position Pier 1 to meet our customers where they shop.”
Those "additional actions" include reducing store footprint by 450 locations including certain distribution centers. WJON announced early December 2019 that St. Cloud's location would be closing, but now additional stores in danger include Ridgedale, Maple Grove, Burnsville, Richfield, Eden Prairie, St. Paul, Eagan, Shakopee, Maple Grove, Woodbury, Coon Rapids, Oak Park Heights, Duluth and Rochester.
This news comes the same day as news broke that St. Cloud's Old Chicago has also closed.