When we sawthat Pier 1 Imports is offering to buy competitor Cost Plus for $81million, we have to admit that confusion set in.As much as we likethe Cost Plus stores (Where else in the suburbs can you pick upPinot Noir, Sriracha and afancy chair under one roof?), the timing of this deal seems a bitoff.Though Pier One, which has been hit hard by thehousing crash and competition from discounters, seemed to beturning things around during its latest quarter,a Forbes article points out that analysts and investors are skeptical as toif now is the time for the chain to pursue acquisitions.Or are weand others not seeing what Pier 1 has to gain from such a deal?

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