Pier 1 to scale back store closings by 67% in fiscal year 2010

Home furniture and decor retailer Pier 1 has announced that it's cutting back planned store closings for the 2010 fiscal year from 125 to 50, a 67% decrease, reports Retailer Daily. A drop in quarterly losses and SG&A expenses led to Pier 1's decision to scale back closings. This fiscal year, Pier 1 has already shut down 31 stores, 26 of those occurring during the 2009 calendar year.