Pier 1 Earnings Beat Forecasts

Pier 1 Imports Inc. said profit grew 20% in its fiscal fourth quarter to $34 million, or 34 cents a share, as customers responded to its focus on lower pricing and larger selection. The retailer was expected to earn 31 cents, the average estimate of analysts polled by First Call/Thomson Financial. Sales increased 15% to $380.1 million, with same-store sales up 9%. Fort Worth-based Pier 1 shares rose 16 cents to close at $11.44 on the NYSE. (Bloomberg News)

North Face Falls: North Face Inc. shares fell 67% a day after the money-losing camping gear maker said there were doubts about its ability to stay in business. Shares of Carbondale, Colo.-based North Face, which has had losses for the last three quarters, fell $2.47 to close at $1.22 in heavy Nasdaq trading, after earlier touching an all-time low of $1. The company said it was having problems meeting its financing needs and that its credit line was extended to April 15 from March 31.