Pier 1 Imports Raises Profit Forecast Again

Pier 1 Imports Inc. raised its quarterly profit forecast for the second time this month after it sold more products at full price.

Earnings for the third quarter ending Saturday will be 21 to 23 cents a share, the company said. Earlier, Pier 1 raised the estimate to 19 to 21 cents. Analysts’ average forecast was 20 cents, according to Thomson Financial/First Call.

Same-store sales are rising more than expected because of new products and a push by consumers to make their homes a sanctuary for the holidays after the Sept. 11 terrorist attacks, Pier 1 said. The company also said it’s controlling expenses.

Shares of Pier 1, based in Fort Worth, Texas, rose 73 cents to $14.70 on the NYSE.