Stores closed: 2 in 2010
The fortunes of Pier 1, not unlike other major retailers, have been tied to the swells and swoons of consumer spending. Before the recession, business was fair for Pier 1, its stock maintaining a value of just below $8 per share. But at the peak of the downturn the retailer's share price nearly bottomed out (it hit $0.21 per unit in February of 2009), forcing the California-founded company to restructure. Pier 1 shuttered two of its underperforming Canadian locations in March of this year, ahead of positive sales figures the home décor chain announced earlier this month. Still, despite same-store sales rising 11.2 per cent in its last fiscal quarter, a company spokesperson said Pier 1 has no plans to reopen/open any locations in Canada this year.
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Is now a good time to buy a house?
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- Yes, prices will continue to rise.
- No, Canada is facing a housing bubble and prices will eventually fall.
- I don't know.