Pier 1 Imports has appointed Lance Wills as EVP, CIO, effective immediately. Wills will lead the company’s technology efforts as the retailer tries to right itself after comparable sales dipped 10.5% during Q3 2018.
“As we continue to narrow our strategic focus and employ a more customer-centric mindset across the company, we are committed to building upon our existing technology platform and increasingly capitalizing on data insights to help drive our business and customer initiatives forward,” said Cheryl Bachelder, Interim CEO in a statement. “Lance brings the leadership, expertise and track record of execution we need to support multi-channel customer experiences as we strive to restore sales growth and improve profitability.”
Bachelder plans to reduce Pier 1’s capital expenditures to $40 million in fiscal 2019 from $60 million in fiscal 2018. As part of the turnaround effort, Pier 1 also will narrow its product lineup to remain “crystal clear on the items and the focus” of its brand.