Pier 1 Imports, a retailer we didn't think would ride things out this long, is still surviving.Sure, the company didn't have amazing fiscal-year results, posting a net loss of $29 million, and a same-store sales decline of 9.7% during the fourth quarter. But executives are saying that they expect to close no more than 80 stores this year out of the nearly 1,100 in operation.The retailer also says it is in active negotiations with landlords for lease reductions and is in a good cash position to ride out the rest of the year. Its CEO is also predicting future profitability.We always thought the plight with Pier 1 was heavy competition from Target, but now that rival isn't doing so well either. Is Pier 1's future a little brighter than we had previously thought?
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