Pier 1 - Worth a Look?

With the housing market slowing down, now might be the time to look at companies that would benefit from people deciding to spruce up their existing homes, instead of buying a new house.

I came across this today, which was interesting, courtesy of CNN Money;

PIER ONE: CEO Marvin Girouard says he is stepping down. Not a moment too soon if you ask me. He's been The Man since 1999 and during his tenure, PIR (Charts) went way up and then way down. (From $25 to $7 over the past three years.) They had Kirstie Alley as a pitch person. Then one of the "Queer Eye" guys. They also tried a catalog. Most important though, the company's strategy of importing and selling trendy home furnishings had been copied by the likes of Target (Charts), Wal-Mart (Charts) and others, especially Bombay Company. Still, I think, this one might perk up, now that the big guy is on the way out.

If they could get it together and find something that the public will like, besides wicker furniture, there may be something that can be made...