A Very Brief History Of Pier 1 Business
Pier 1 is an omnichannel retailer selling home goods such as, candles, indoor and outdoor furniture, rugs, curtains, lighting, throw pillows, gifts for the kitchen, bathroom and bedroom, dishes and serve ware. They have been in business for over 50 years, during these years there have been many ups and downs while they sold an eclectic, exclusive and one of a kind product. Despite these ups and downs, they are still surviving and looking for ways to bring the company into the 21st century.
Pier 1 Company Profile
History
According to Encyclopedia.com, the company’s story begins in 1962 when Charles Tandy and Luther Henderson opened the first Cost Plus store. In 1966, Mr. Tandy sold his portion of the company to Mr. Henderson and some investors. Encyclopedia.com also states that Mr. Tandy sold it because he had become too busy with his Tandy Corporation (the precursor to Radio Shack). “Mr. Henderson and the investors changed the name to Pier 1 Imports to reflect the store’s import emphasis and embarked on a mission to expand the concept nationally” (Encyclopedia.com).
By the end of the 1970’s Pier 1 was listed on the American Stock Exchange and two years later they switched to the New York Stock Exchange. They still trade on the New York Stock Exchange with the ticker symbol of (PIR). In Pier1.com’s history section they have listed that in the 1970's they also “grew to 123 stores,” and were
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