Where Pier 1 Imports may close up to 145 stores this year

2 months ago by James Mattone in Features, Trends

Pier 1 Imports ($NYSE:PIR), the home goods store known for selling a mishmosh of unique items, just announced that it could close up to 150 stores in the shadow of a 9.5% year-over-year sales drop.

The Thinknum database tracks 944 total Pier 1 stores with active pages, which means, should Pier 1 choose to close 145 stores, would decrease the company's brick-and-mortar footprint by 15.36%. In what is just another chapter of our coverage on the retail apocalypse, the alternative data trails left behind by Pier 1 publicly online can give us some clues as to where these stores may close.

Population density heat map

In the above, there are a few locations where the number of Pier 1 stores can be as much as one for every 50,000 people in a core-based statistical area (CBSA).

In some cases with places with a small population, such as with Gardnerville Ranchos, Nevada, having one store there could give the impression of a crowded place. However, one place — Key West, Florida — has two Pier 1 stores among a population of around 75,000 people.

These two stores are on the Keys, where about a third of that population lives, but then again, it is also a popular tourist destination. This is what we have to keep in mind with the data; maybe the tourism is an X Factor here for keeping stores, as customers may want that really obtuse centerpiece candle from here for their beach bungalow.

Stores in close proximity

What may help us, then, is to reference the above map alongside stores in close proximity.

As expected, Pier 1's closest sister stores reside mostly in the New York tri-state area, Texas, Chicago, and California. However, within this group are a few areas worth investigating.

Pier 1 Store Name

Street

City

State

Miles to Next Store

Next Store Name

Street

City

State

Route 4

58-64 Rte 4 E

Paramus

NJ

0.432

Route 17

723 Rte 17 S

Paramus

NJ

15th & 5th

71 Fifth Ave

New York

NY

2.331

Jersey City

125 18Th Street

Jersey City

NJ

Willowbrook

17725 Tomball Parkway

Houston

TX

2.394

Houston Champions

5650 Fm 1960

Houston

TX

65th & 3rd

1110 3Rd Avenue

New York

NY

2.538

15th & 5th

71 Fifth Ave

New York

NY

Village

2501 Rice Blvd

Houston

TX

2.549

River Oaks

1927 West Gray

Houston

TX

Green Hills

3730 Hillsboro Pike

Nashville

TN

2.629

White Bridge

21 White Bridge Rd

Nashville

TN

Culver City

11140 Jefferson Blvd

Culver City

CA

2.687

Marina Del Rey

13455 Maxella Ave

Marina Del Rey

CA

New Hyde Park

1454 Union Turnpike

New Hyde Park

NY

2.695

Manhasset

1435 Northern Blvd

Manhasset

NY

Brickyard

2532 N Narragansett Ave

Chicago

IL

2.798

Oak Park

1143 West Lake St

Oak Park

IL

Alexandria

4609 Duke Street

Alexandria

VA

2.854

Falls Church

5857-A Leesburg Pike

Falls Church

VA

South Loop

1014 S Canal St

Chicago

IL

2.921

Lincoln Park

1574 N Kingsbury St

Chicago

IL

New Orleans

5300 Tchoupitoulas St

New Orleans

LA

2.926

Harvey

1629 Westbank Expy.

Harvey

LA

Minnetonka

11315 Hwy 7

Minnetonka

MN

2.934

Ridgedale

12970 Wayzata Blvd

Minnetonka

MN

Lovers Lane

5427 West Lovers Ln

Dallas

TX

3.006

Preston & Royal

10720 Preston Road

Dallas

TX

Saratoga

5205 Prospect Road

San Jose

CA

3.061

Cupertino

20610 Stevens Creek Blvd

Cupertino

CA

First, there is Nashville, Tennessee. There are two Pier 1 stores within 2.629 miles "as the crow flies" between each other. With usual traffic according to Google Maps, it is only a 15 minute drive between these two stores.

Another interesting case is in Minnetonka, Minnesota. Here, the stores are less than 3 miles apart in "crow's fly distance," but when driving up the interstate in usual traffic, it takes someone interested in some kitschy furniture about 10 minutes to get from store to store.

Even within the biggest metro areas, there is a case for places such as Paramus and Long Island (New Hyde Park and Manhasset). Although plenty of people live in these areas, is having two Pier 1 stores within three miles of each other — or even a half mile away — too much for the market?

You can be the judge of that, but in reality, that's probably what Pier 1 is thinking about too.

Those interested in some previous retail apocalypse analysis should turn to our look at Bed Bath & Beyond, as well as J.C. Penney.

Join the businesses who have begun to edge out competitors by scouring the web for “alternative” data.

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James Mattone

James is the Associate Editor at Thinknum Media, mainly covering video games, food, and tech news, but not afraid to head into Sephora or beauty brands if need be...

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