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 angela.chen@dowjones.com
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