Pier 1 Imports
In the first quarter of 2018, Pier 1 experienced a 9.2% drop in net sales. This translates to $371.9 million years over year. The company’s credit rating was also downgraded by S&P Global analysts. To top it off, Trump’s 10% tariff against Chinese goods is another problem they faced. Pier 1 once reported that more than half of their goods are made in China.
Pier 1
Lands’ End
Land’s End specializes in clothing, luggage, and home furnishings. However, customers don’t seem to appreciate this much anymore. The company’s association with Sears is the original cause of its troubles. Sears went in a different direction in 2013. One brand was the youthful Canvas brand that aimed to attract customers who were fashion-forward. Canvas wanted to feature clothes in “designer styles to relaxed looks”. Despite being trendy, the brand didn’t get its target clientele onboard.
Lands’ End