Pier 1 Imports, with 19 Maryland locations, plans to close up to 450 of its U.S. stores, about half the chain.
The company did not say which stores will close or offer a timeline for the closures. Stores in the Baltimore area include locations in Annapolis, Bel Air, Catonsville, Columbia, Hunt Valley, Gambrills, Laurel, Pasadena, Reisterstown, Westminster and White Marsh.
The home goods retailer said it expects to boost sagging sales and profits by reducing its store footprint as more people shop online. The chain also plans to cut corporate expenses by closing some distribution centers. A liquidator will help the retailer manage store closings.
“Reducing the number of our brick-and-mortar locations is a necessary business decision,” to “better position Pier 1 to meet our customers where they shop," said Robert Riesbeck, the retailer’s CEO and CFO. “Looking ahead, we believe that we will deliver improved financial results over time as we realize the benefits of our business transformation.”
Pier 1, which started with a single store in 1962, closed a store at Towson Circle in 2016.