On October 9, 2009, the board of directors of the Pier 1 Imports Inc. amended and restated the bylaws of the registrant in their entirety. The bylaws of the registrant were last amended and restated on May 1, 2003. For convenience, the bylaws of the registrant as amended and restated on May 1, 2003, are referred to as the 'prior bylaws,' and the bylaws of the registrant as amended and restated on October 9, 2009, are referred to as the 'new bylaws.' The new bylaws have been completely rewritten and reformatted. Some of the amendments to the prior bylaws made by the new bylaws were to conform the new bylaws to, or to add provisions permitted by, amendments to the Delaware General Corporation Law. Other amendments were considered advisable in light of Delaware judicial opinions interpreting various bylaws provisions similar to provisions contained in the prior bylaws or in light of changes to corporate governance practices since 2003. The new bylaws provide that, unless otherwise provided by applicable law, the rules or regulations of any stock exchange or other self-regulatory organization applicable to the registrant, which the new bylaws refer to as 'SRO rules,' the certificate of incorporation or the new bylaws, if a quorum exists at any meeting of stockholders, every matter, other than the election of directors, shall be decided by the affirmative vote of the majority of the shares present in person or represented by proxy at the meeting and entitled to vote on that matter. With respect to the election of directors in a non-contested election, each director to be elected by the stockholders of the registrant at any annual or special meeting of stockholders shall be elected by the affirmative vote of a majority of the votes cast with respect to such director by the shares present in person or represented by proxy at such meeting and entitled to vote on the election of directors.

To provide a general update on the company's business

Pier 1 Imports Inc. reported sales results for the month of September 2009. For the month, the company's comparable store sales increased 9.9% versus a decline of 11.7% in September of last year.