Pier 1′s Turnaround

It is not often you hear about a major turnaround for a retail company. However, Pier 1 looks to have done just that. After heading for bankruptcy just three years ago, they have made a tremendous comeback with a new CEO and strategy.

As new merchandise arrived, the retailer recognized that it needed to pull consumers back to the store, and so it focused on holders of Pier 1 credit cards. Those customers weren’t shopping the store like they used to — as reflected in its declining sales and losses  — but they remained fond enough of it to maintain their credit cards.

Read more about Behind Pier 1′s Successful Turnaround on BNET