Business

Fate Of Newtown Twp. Pier 1 Imports Location Uncertain


The Newtown Township Pier 1 Imports location. Credit: Google Maps

Pier 1 Imports, which operates a store in Newtown Township, plans to close nearly half its locations.

The Texas-based home goods chain said the locations that will be closed will be announced in the future. The Newtown Township store is located in the Court at the Village At Newtown Shopping Center.

The news of the shrinking of Pier 1’s footprint comes as the retailer faces financial pressures in shifting retail environment. The company, which operates 936 stores in America, also plans to close distribution centers and reduce its corporate expenses.

“Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision,” Pier 1 CEO and Chief Financial Officer Robert Riesbeck said in a statement.

Pier 1 plans to use a third-party liquidator to help manage the store closings, Riesbeck said.

In the third quarter of 2019, net sales decreased by 13.3 percent, according to the company’s Monday earnings call.


About the author

Tom Sofield

Tom Sofield

Tom Sofield has covered news in Bucks County for five years for both newspaper and online publications. In 2012, Tom was honored at the Pennsylvania Newspaper Association Foundation's Keystone Press Awards for his coverage of President Obama's visit to Falls Township in 2011. When he's not covering news in the area, Tom enjoys checking out the newest restaurants and bars, exploring forgotten places of industry in the area, going to local parks and spending time with his friends and family. If there's one thing you should know about Tom, he is a local news junkie through and through. Email: tom@newtownpanow.com Phone: 215-431-1001