Pier 1 continues to invest its CapEx in technology and infrastructure, including e-commerce and a point-of-sale system. For fiscal 2013, capital expenditures are expected to be around $70 to $75 million, with about half allocated to stores and the other half allocated to technology and infrastructure. Among the retailer’s investments are a new POS system, an e-commerce site, a mobile site and a new loyalty rewards program in partnership with Alliance Data.
The current priority is the implementation of the POS system, which also requires back-of-house improvement to streamline infrastructure and help move processes off the mainframe. Over the past several months, the retailer has been developing and testing the new system in preparation for the launch of the pilot program in a handful of stores beginning the end of the year. Once the pilot is successfully executed, the system will be rolled out across all stores next year, with plans to begin e-commerce integration by fall of 2013. This will provide the ability to gain real-time visibility of customer activity and provide a seamless shopping experience for customers, whether in store or online.
“The real reason to switch is, number one, to ensure that the omni-channel, meaning point-of-sale and Internet business and mobile, is all seamless to the consumer,” said Charles Turner CFO for Pier 1 Imports on a recent call with investors.
One of the largest and most complex projects for Pier 1 has been the new e-commerce-enabled, fully redesigned pier1.com website. The transformation and successful launch have been viewed as a major milestone for the retailer, which positions the business to grow into a multi-channel organization.
[via RIS News]