What a difference a couple of months makes? For Pier 1 Imports, brand loyalty appeared to be headed for a steep decline amid four consecutive quarters of declining sales, a CEO set to leave the company at year’s end, and contention from a key investor.
Fast forward two months and Pier 1 Imports has received an injection of good news during crunch time in the all-important holiday season: The company’s third-quarter results sent shares skyrocketing to their biggest price gain ever and prompted price target increases among....