June 16, 2011 / 10:22 AM / 6 years ago

CORRECTED-UPDATE 1-Pier 1 Imports posts stronger Q1 profit

(Corrects Wednesday closing price for Pier 1 shares)

* Q1 EPS $0.12 vs $0.07 last year

* Q1 rev up 9.3 pct at $334.6 mln

June 16 (Reuters) - Home goods chain Pier 1 Imports Inc posted a sharply higher first-quarter profit on improved merchandise margins.

Net income stood at $14.1 million, or 12 cents a share, compared with $7.7 million, or 7 cents a year ago.

Revenue rose 9.3 percent to $334.6 million.

Shares of the Fort Worth, Texas-based company, closed at $11.18 on Wednesday on the New York Stock Exchange. (Reporting by Arpita Mukherjee in Bangalore; Editing by Joyjeet Das)

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