Pier 1 2011 Annual Report Download - page 12

statements provide current expectations of future events based on management’s assumptions and assessments in
light of past experience and trends, current economic and industry conditions, expected future developments, and
other relevant factors. These statements encompass information that does not directly relate to any historical or
current fact and often may be identified with words such as “anticipates,” “believes,” “expects,” “estimates,”
“intends,” “plans,” “projects” and other similar expressions. Management’s expectations and assumptions
regarding planned store openings and closings, financing of Company obligations from operations, success of its
marketing, merchandising and store operations strategies, and other future results are subject to risks,
uncertainties and other factors that could cause actual results to differ materially from the anticipated results or
other expectations expressed in the forward-looking statements. Risks and uncertainties that may affect Company
operations and performance include, among others, the effects of terrorist attacks or other acts of war, conflicts or
war involving the United States or its allies or trading partners, labor strikes, weather conditions or natural
disasters, volatility of fuel and utility costs, the actions taken by the United States and other countries to stimulate
the economy, the general strength of the economy and levels of consumer spending, consumer confidence,
suitable store sites and distribution center locations, the availability of a qualified labor force and management,
the availability and proper functioning of technology and communications systems supporting the Company’s
key business processes, the ability of the Company to import merchandise from foreign countries without
significantly restrictive tariffs, duties or quotas, and the ability of the Company to source, ship and deliver items
of acceptable quality to its U.S. distribution centers at reasonable prices and rates and in a timely fashion. The
foregoing risks and uncertainties are in addition to others discussed elsewhere in this report which may also
affect Company operations and performance. The Company assumes no obligation to update or otherwise revise
its forward-looking statements even if experience or future changes make it clear that any projected results
expressed or implied will not be realized.
Executive Officers of the Company
ALEXANDER W. SMITH, age 58, joined the Company as President and Chief Executive Officer in
February 2007. Prior to joining the Company, Mr. Smith served as group president of the TJX Companies, Inc.
where he oversaw the operations and development of Home Goods, Marshalls, TJ Maxx, and a number of
corporate functions. He was instrumental in the development of the TK Maxx stores in Great Britain and also ran
their international operations.
CHARLES H. TURNER, age 54, was named Executive Vice President of the Company in April 2002 and
has served as Chief Financial Officer of the Company since August 1999. Mr. Turner has served the Company
for nineteen years in key executive capacities within the organization including Senior Vice President of Stores
and Controller. Mr. Turner first became an officer of the Company in 1992 when he was named Principal
Accounting Officer. Prior to joining the Company, he was Group Controller for JC Penney and a Senior Manager
for KPMG Peat Marwick.
CATHERINE DAVID, age 47, joined the organization in August 2009 as Executive Vice President of
Merchandising and was named an executive officer of the Company in October 2009. Prior to her current role,
Ms. David served as President and Chief Operating Officer of Kirkland’s Inc. and Vice President and General
Manager with Sears Essential, Sears Grand and The Great Indoors. Ms. David also previously served the Target
Corporation for thirteen years in various positions including Vice President and General Manager of target.direct
and various positions in the buying, planning and stores divisions.
GREGORY S. HUMENESKY, age 59, was named Executive Vice President of Human Resources of the
Company in February 2005. Prior to his current position, he served in various human resource positions for other
retailers including ten years as Senior Vice President of Human Resources at Zale Corporation and twenty-one
years in various positions of increasing importance at Macys.
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