As of Nov 25, 2017, Pier 1 Imports operated 1,011 stores, comprised of 934 stores in the US and 77 stores in Canada.
In fiscal 2017, the company opened 7 stores in the US, and closed 19 stores in the US and 2 stores in Canada. During the first nine months of fiscal 2018, the company opened 1 store and closed 8 stores. The company expects to close approximately 20 to 25 net stores in fiscal 2018.
All stores are leased, most with primary terms of 10 years, with varying renewal options and rent escalation clauses. Stores consist of freestanding units located near shopping centers or malls, and in-line positions in major shopping centers. Stores average approximately 9,800 gross square feet, including an average of approximately 7,900 square feet of retail selling space.
|Total gross square feet (M)||9,887||9,913||10,256||10,533||10,590||10,474|
|Total gross square feet growth||-1.8%||-3.3%||-2.6%||-0.5%||1.1%||1.1%|
|Avg store gross sq ft||9,800||9,700||9,900||9,900||9,900||9,900|
|Avg store gross sq ft growth||-0.7%||-2.0%||0.5%||0.1%||0.2%||0.1%|