• August 13, 2007

Pier 1 Imports Inc., the retailer whose sales have declined in nine of the past 10 quarters, fired Phil E. Schneider, its executive vice president of marketing, according to Bloomberg.

Schneider was dismissed last week, the Fort Worth, Texas-based company said Friday in a Securities and Exchange Commission filing.

The company didn't give a reason, and said it's searching for a replacement.

In June, the company said its first-quarter net loss widened to $56.4 million or 64 cents a share, from $23.2 million or 27 cents a year earlier--more than analysts estimated--after reducing prices to clear out items.

It also announced plans to cut jobs and close Pier 1 Kids stores.